The 100-Vessel Plan (Current Events)
The 100-Vessel Plan (Current Events)
Why In News:
The Union Ministry of Ports, Shipping and Waterways has announced a plan to add 100 vessels to India’s merchant fleet over five years.
100-Vessel Plan
Target: Addition of 100 vessels to India's merchant fleet over a five-year period.
The plan is aimed at increasing India's merchant shipping tonnage and strengthening the country's position as a major ship-owning nation.
It is linked to the long-term objective of placing India among the world's top five ship-owning nations under Maritime Amrit Kaal Vision 2047.
A major component is reflagging, under which eligible vessels are brought under the Indian flag, thereby increasing India's registered tonnage.
Why Merchant Fleet Matters
Merchant ships transport commodities such as crude oil, LNG, coal, iron ore, containers and other bulk cargo.
Since a large proportion of India's international trade by volume (around 95%) is transported by sea, shipping capacity has a direct bearing on trade logistics and freight costs.
A larger Indian merchant fleet can increase India's participation in the freight earnings generated by its international trade.
India currently has around 1,600 seagoing merchant vessels, which is relatively small compared with the scale of its external trade.
National Shipping Board
The National Shipping Board (NSB) is a statutory advisory body associated with India's maritime administration.
It advises the government on matters relating to shipping policy, merchant shipping and development of Indian shipping tonnage.
The Board functions within the institutional framework of the Merchant Shipping Act.
‘Sagar Samvad’ was the inaugural dialogue event of the NSB and focused on India's maritime-development roadmap.
Merchant Shipping Act, 2025
The Merchant Shipping Act provides the legal framework governing important aspects of merchant shipping in India.
It deals with matters such as registration of ships, safety of vessels, certification and regulation of Indian shipping.
Indian-flagged merchant vessels operate within this regulatory framework.
Maritime Amrit Kaal Vision 2047
Maritime Amrit Kaal Vision 2047 is India's long-term maritime development roadmap extending to 2047.
It seeks to transform India into a global maritime power through development of ports, shipping, shipbuilding, waterways, logistics and related maritime services.
Maritime India Vision 2030
Maritime India Vision 2030 provides a medium-term roadmap for transforming India's maritime sector.
It focuses on areas including port infrastructure, logistics efficiency, coastal shipping, inland waterways, shipbuilding and maritime trade.
The vision serves as an important policy milestone preceding the longer-term Maritime Amrit Kaal Vision 2047.