India’s private shipping companies are looking for big changes in the government’s approach to an industry that should be a strategic engine for economic growth.
Ranjit Singh, executive director and chief executive of publicly traded, Mumbai-based Essar Shipping, says the domestic industry can be competitive, but “various regulatory and financial issues” hamper its competitiveness.
“The taxation structure, duties on ship acquisition, higher domestic interest costs are among the major issues that need immediate redress,” he adds.
