Roll No-043 (India's International Trade) (1)

[Audio] Good morning everyone. Today we will be discussing India's international trade in shipping and how it has helped drive their global market growth. We'll explore the geographical advantages public and private sector players along with regulatory bodies and shipping trade routes that have been instrumental in facilitating this growth. Let's get started..

[Audio] India's international trade has seen a major transformation in recent years as the country is emerging as an economic and diplomatic powerhouse. Trade has become imperative to the Indian economy acting as a key driver of economic growth and development. India's export and import segment especially in terms of shipping and freight has sky-rocketed bolstering India's presence in the international market. This presentation will look into India's current participation in global trade and how its maritime and logistics industry has enabled it to become an integral part of the worldwide market..

[Audio] Strategically located at the junction of Asia and the Indian Ocean India benefits from geographic advantages that make maritime trade a major component of its economy. It has an extensive coastline and diverse landforms which produce an abundance of natural resources and agricultural products meant for export. With ports like Mumbai Chennai and Kolkata India is able to manage a large volume of international trade by sea thus enabling access to the global market and the expansion of its economy..

[Audio] India's international trade relies heavily on its shipping industry with a number of public and private sector players involved. These include the Shipping Corporation of India Dredging Corporation of India Adani Ports DP World and JSW Infrastructure. All these organisations have a significant role to play in ensuring the efficient functioning of India's international trade..

[Audio] India boasts a vast maritime trade network which spreads across the Indian Ocean connecting it to key trading nations in East Asia the Middle East Europe and Africa. China the United States the United Arab Emirates and Saudi Arabia are India's top trading partners. This complex network of maritime commerce transports a multitude of commodities like crude oil petroleum products containers and bulk cargo. India is an essential contributor to global shipping having a fundamental part in the movement of goods worldwide..

[Audio] India's import of commodities is essential to the country's economic growth providing the resources needed. Annually India imports crude oil gold precious stones machinery and electronic equipment from principal sources such as China the US the UAE Saudi Arabia and Iraq. These items are crucial to India's infrastructure and manufacturing sectors. India's merchandise trade (exports and imports) reached a historic peak of more than 800 billion dollars in 2021-22. Exports also skyrocketed to a never-before-seen height of above 400 billion dollars demonstrating India's worth in the global trading market..

[Audio] India's international trade in shipping has seen remarkable growth over the last few years. In 2020-21 exports reached a new peak of 290 billion dollars. Even during the global pandemic in 2021-22 exports managed to make a comeback to 331 billion dollars. Going forward the prospect of further growth in India's shipping sector looks quite promising for 2022-23..

[Audio] India's international trade plays an important role in its economic growth and development. Its shipping industry has a competitive advantage due to the size of its coastline and the presence of ports. Looking ahead strategic initiatives taken to capitalize on this advantage should include modernizing ports improving hinterland connectivity increasing coastal shipping and promoting the shipbuilding industry. It is also important that regulations are efficient skill development is adequately facilitated and sustainable practices are incentivized to ensure the maritime industry remains competitive..

[Audio] The facts and figures seen throughout this presentation are sourced from reliable websites including Google SIOMEX Commerce.gov.in Data.gov.in and IndianTradePortal.in. Your interest in India's international trade in shipping is highly appreciated. Thank you for taking the time to view this presentation..