<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The Future
Kerala Business Conclave 2026, served as a pivotal
stage for the Directorate General of Shipping to outline a transformative
vision for India’s maritime sector. As the nation seeks to solidify its
position as a global maritime powerhouse, the Directorate engaged extensively
with a diverse group of stakeholders, including policymakers, industry leaders,
and representatives from the Micro, Small, and Medium Enterprises (MSME)
sector. This high-level participation underscored the government's commitment
to fostering a robust ecosystem that can support India's evolving economic
needs and global trade ambitions.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Shyam
Jagannathan, the Director General of Shipping, served as the Chief Guest and
delivered a keynote address that highlighted the maritime industry's
indispensable role as the backbone of the Indian economy. He provided critical
data illustrating this dependence, noting that maritime transport is
responsible for facilitating nearly 95% of the country’s trade by volume and
approximately 70% by value. Given this significant economic impact, Jagannathan
stressed the urgent need to develop shipping systems that are both resilient
and adaptable, particularly in the face of current geopolitical instabilities
such as the ongoing crisis in the Middle East.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">A major
theme of the Directorate's presentation was the integration of sustainability
into the core of maritime operations. Jagannathan advocated for aggressive
green shipping initiatives and comprehensive decarbonization efforts to ensure
the long-term competitiveness and environmental viability of the sector. By
prioritizing these advancements, India aims to align its maritime
infrastructure with global environmental standards while simultaneously
enhancing its strategic autonomy and efficiency in international trade routes.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The
conclave also delved into the "Potential of Blue Economy," with a
focused session led by Pradeep Sudhakaran. Sudhakaran detailed a strategic
shipbuilding vision and a comprehensive policy roadmap designed to boost
domestic capacity and reduce the nation's reliance on foreign shipping
services. A key objective highlighted was the reduction of foreign exchange
outflow, which currently arises from the heavy use of international shipping
providers. By strengthening the local shipbuilding and repair industry, India
expects to retain more economic value within its borders and create new
opportunities for domestic businesses.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">To achieve
these goals, the government is leveraging specific financial and development
frameworks to support industry players. Sudhakaran elaborated on the importance
of the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding
and Ship Repair Development Scheme (SBDS). these initiatives are intended to
provide the necessary fiscal support and infrastructure development required to
improve India’s global competitiveness in ship manufacturing and maintenance,
ultimately reinforcing the government's broader commitment to a self-reliant
and technologically advanced maritime ecosystem.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"> </span></p>