The shipping fraternity in Kochi was all praise for the Budget initiatives aimed at promoting coastal shipping, port development and inland water transportation.

Above all, the announcement for setting up a 24x7 customs clearance facility in 14 seaports in respect of specified import and export goods would facilitate speedy cargo clearance, C.S. Kartha, Vice-President of the Cochin Chamber of Commerce and Industry, said.

The Indian Customs Single Window project to facilitate trade, when implemented, will be the single most effective exercise that would facilitate ease of doing business for exporters and importers in major ports, he told Business Line on the sidelines of an event.

Kartha, who is also a former board member of Kochi Port, said the incentives announced for coastal shipping would do much to promote this sector, which is still in its fledgling stages in India. This, together with the thrust on inland water transport, will prove beneficial to a State such as Kerala and will, if properly implemented, emerge as one of the most efficient, cost-effective and environment-friendly modes of transport.

The development of a navigable inland waterway system will greatly improve the capacity for transportation of goods. Kerala is blessed in this regard. The State already has an inland waterway system in place. All that needs to be done is to develop it to make it easily navigable.

Once this mode of transportation is made available, he said it will be possible to transfer a sizeable section of the cargo movement away from the already overburdened roads. Further, this will bring down logistics costs. This will, in the long run, help in making our exports more cost competitive in the world markets.

According to Prakash Iyer, President of the Cochin Steamer Agents’ Association, 16 new port projects are proposed which would increase port connectivity. If implemented effectively, this will be critical in boosting trade.

A policy layout for encouraging the growth of Indian-controlled tonnage in the Budget proposals would ensure increased employment of Indian seafarers. This is a positive step and coincides with the Government’s intention to create more jobs across all sectors, he added.

Related Topics