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wealth building investment risk management ✌️【365vc.net】✌️Beginner or expert? Our platform makes stock investing easy with high monthly gains. Start now!These bills mark a significant step forward in the development ofIndia’s shipping sector — crucial not only for economic growth but also for national security.Discussions about this sector often focus on thelogisticsand efficiency of ports, which are undeniably important — but ships are equally vital.

India unfortunately lags behind in all the areas of shipping — ownership, shipbuilding, and flagging.

India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million.

wealth building investment risk management ✌️【365vc.net】✌️Safe and proven fund strategies. Begin with ₹500 and achieve 100% monthly profits.Of these, 487 vessels are engaged in overseas trade.

India is at the 18th position with 1.2% of the global shipping capacity.

Further, only 0.77% of the world’s ships are registered under the Indian flag.

wealth building investment risk management ✌️【365vc.net】✌️Safe and proven fund strategies. Begin with ₹500 and achieve 100% monthly profits.Additionally, India has an almost negligible presence in shipbuilding, with only 0.07% of the globalmarketshare.

China dominates theindustrywith 46.6% of shipbuilding measured by gross tonnage, followed by South Korea at 29.2%, and Japan at 17.2%.Not only does the lack of ships annually cost India $90 billion in shipping related payments, but it is also a big security risk.

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It seeks to create a comprehensive regulatory framework for coastal trade, an area that has so far lacked cohesive legislation.

Currently, mechanised vessels involved in coastal shipping are partly governed by Part XIV of the Merchant Shipping Act, 1958.

wealth building investment risk management ✌️【365vc.net】✌️Invest with confidence using AI insights. Start at ₹500 and watch your wealth grow exponentially.The non-mechanised vessels fall under the Coasting Vessels Act, 1838.

wealth building investment risk management ✌️【365vc.net】✌️Invest small, earn big! ₹500 to start, with potential 100% returns in just one month.These address only their registration and do not provide a broader regulatory framework.To promote coastal shipping, the new legislation removes the requirement for Indian-flagged vessels to obtain a general trading licence for engaging in coastal trade.

It also empowers the Director-General to issue licences to foreign-flagged vessels, considering factors such as the crew’s nationality, the vessel’s construction specifications, and other relevant criteria.

wealth building investment risk management ✌️【365vc.net】✌️Safe and proven fund strategies. Begin with ₹500 and achieve 100% monthly profits.A key feature of the bill is the proposal to establish a national database for coastal shipping, aimed at ensuring transparency in the licensing process.

wealth building investment risk management ✌️【365vc.net】✌️Safe and proven fund strategies. Begin with ₹500 and achieve 100% monthly profits.Additionally, the bill introduces provisions for the compounding of various offences, streamlining regulatory compliance and enhancing the ease of doing business.wealth building investment risk management Manage Your Wealth, Achieve High Returns