Ministry of Shipping decision to promote Indian flag vessels attract more FDI: N Sivasailam

Commenting on if regionalisation of supply chain would open a big window of opportunity for India in the manufacturing and logistics, N Sivasailam, Former Special Secretary (Logistics), Ministry of Commerce & Industry first talked about the shipping ministry decision to promote Indian flag vessels. He says, “In my view, regionalisation means India’s self reliance along with the globe.” He continues, “I am pretty certain that this initiative would create facilitative environment in order to ensure a good reign of business. It may cover not only the movement of petroleum and other essential strategic but also a whole lot of India’s export in container trade. We are not trying to say that vessels should be of Indian investment or there should not be any foreign investment. However, this is also a means of attracting foreign domestic investment in India and making India an attractive place for FDI for the service sector.”