New Delhi, Aug 8 : The Union Cabinet today gave its ex-post-facto approval for signing of MoU between India and Netherlands in the fields of ports and maritime transport and logistics.
The Government of Netherlands has extensive experience in efficient management of ports and maritime transport and logistics. Their experience would be utilized by India in these areas.
The maritime industry, with its constituent sectors of ports, shipping and shipbuilding, will be a critical component in the growth of the Indian economy.
The role played by maritime transport in underpinning the new global economy is crucial. Moreover, shipping also makes a very direct contribution to poverty alleviation and the economic growth of developing countries.
The existence of strong transport and communication infrastructures is essential to sustainable development. And maritime activity provides an important source of invisible income to many developing countries.
Indeed, developing countries now lead the world in some of shipping's most important ancillary businesses, including the registration of ships, the supply of sea-going manpower and ship recycling. They also play a significant part in ship owning and operating, shipbuilding and repair and port services, among others.