Problems and Prospects of Shipping Business in India

The growth in international trade, removal of trade barriers being the principal reason, has made the developing countries to concentrate more on the improvement of their infrastructure, like roads, airports, seaports, which play a vital role in the development of the economy. Product storage, along with the capacity to move large shipments, have placed the shipping industry in a very advantageous position. Containerization, multi-modal trans-port services, advancement of marine engineering technology, specialized systems, and computerization have contributed towards making sea transport as a prime mode for movement of internationally traded goods. However, the development of shipping industry in a country also depends on its population density, economic advancement and many other inter-related conditions, like port and refuelling capacities.