India has been one of the fastest growing economies that witnessed rapid growth in the last decade. The country shows the potential to become the world’s third largest economy after the US and China in the next two decades. In the midst of the global economic downturn, India’s growth story has had its dull moments. Structural challenges, governance issues, infrastructure bottlenecks, domestic policy factors and regulatory obstacles have affected the potential output, albeit in the short-term, lowering the pace of economic activity.
So big challenges there! However, challenges bring newer opportunities. Macroeconomic policies and continued reforms can set the foundation for accelerated growth while new investment projects and strengthening exports can support a recovery in industrial activity. So, time for India to march ahead, and make things happen.
INDIA’S MARITIME SECTOR: The Indian maritime sector has seen activity in terms of priority areas in Maritime Agenda 2020 getting attention, public-private partnerships taking off, capacity enhancement projects picking up and more importantly policy measures being initiated such as relaxation of cabotage and new tariff guidelines for TAMP, to facilitate a competitive market.
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