Economics
What's Tripping Modi's Dream for Shipping Hub to Rival Singapore
- New India shipping laws are half-baked, fall short: Industry
- Curbs, costs mean shippers prefer Colombo, Singapore, Dubai
Fishermen throw freshly caught fish into a container sitting in a boat at the Kirshnapatnam port in Andhra Pradesh, India.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Gifted with a 4,700-mile coastline, India for years has wanted a world class shipping hub that could compete with regional star Singapore. When the time came this month to help make that dream a reality, policy makers may have botched it up, analysts say.
In the works for at least a decade, the shipping ministry’s long-awaited rules announced in a March 7 notification impose conditions that will end up hindering the growth of Indian ports, according Geneva-based Mediterranean Shipping Co. and Mumbai’s Mantrana Maritime Advisory Pvt.