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Good times ahead for Indian economy
Despite global economy appearing sluggish with manufacturing sector showing no signs of improvement, there is much scope for India\'s economy to better itself in 2016, speakers at the fourth East Coast Maritime Business Summit have observed. The two day conference organised by Indias leading Maritime Publication Maritime Gateway was held to showcase the scope for maritime trade along the east coast
Though the external environment - particularly manufacturing sector- is not conducive, the country’s economy is robust enough to withstand any crises, speakers at fourth East Coast Maritime Business Summit have observed
​Visakhapatnam: Despite global economy appearing sluggish with manufacturing sector showing no signs of improvement, there is much scope for India's economy to better itself in 2016, speakers at the fourth East Coast Maritime Business Summit have observed. The two-day conference organised by India's leading Maritime Publication Maritime Gateway was held to showcase the scope for maritime trade along the east coast.
In his inaugural address, chief guest and CMD of Hindustan Shipyard Rear Admiral LV Sarat Babu spoke about the opportunities in the shipbuilding sector. This was followed by Concor Director of Projects and Services V Kalyanarama speaking about multiple solutions and value added services that the rail container operator was willing to offer as part of its multi-model logistic parks.
Walter d Souza, convenor, ports and logistics committee, Federation of Indian Exports Organisation who raised a red flag on the dipping export volumes, said while the last few years did show some signs of improvement, the current year's export volumes went back to the levels that were during the year 2010. He mentioned on how working closely with the maritime sector could help exports volume increase.
Several port users expressed their anguish while dealing with ports and talked about how tariff at ports should be competitive. Trained manpower is a must at ports and they must be able to understand the nature of cargo to be able to handle them. A representative of Dr Reddy's Laboratories, Dr K Sathyanarayana spoke about how there a dearth of pharma is handling facilities at major and minor ports along the east coast.
There was also international representation in this session with Rajan Sharma, President, Nepal Freight Forwarders Association and SM Shah Alam, Executive Director, Karim Group speaking on difficulties faced in India while handling cargo.
