CII Welcomes the Government’s decision to reduce port charges and buy five used container vessels as part of the strategy to enhance exports and resolve shipping related issues in trade
“We welcome Government’s decision to reduce port charges to help the trade. This will significantly improve export competitiveness by decreasing the overall costs involved in shipping goods and will help making Indian exports more competitively priced in international markets. It would also help in attracting new exporters, especially small and medium enterprises (SMEs) that were previously deterred by high logistics costs. Lower costs at the port level can also stimulate higher volumes of trade, leading to economies of scale, further reducing logistics costs and enhancing overall export competitiveness”, stated Mr Sanjay Budhia, Chairman, CII National Committee on EXIM.
“The step to buy five container vessels to boost the cargo handling capacity is also well appreciated since this will help address the issue of shortages of shipping grade containers , which often leads to higher freight rates for Indian exporters”, added Mr Budhia.
CII believes that both these initiatives will significantly benefit Indian industry by easing export operations. This move will reduce logistical bottlenecks, enhance cost efficiency for exporters, and improve the competitiveness of Indian goods in global markets. Industries will experience smoother trade flows, shorter delivery times, and lower costs, fostering growth in exports and making Indian products more attractive to international buyers.
24 September 2024
New Delhi