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Why India needs to finance its maritime sector to emerge as a world leader

For the last 5,000 years, shipping has been at the forefront of the world economy, transporting goods and people across the seven continents. Over 80 per cent of the global merchandise trade and 90 per cent of India’s international cargo volume are transported over water. Blessed with 7,500 km of coastline along the Indian Ocean region, India is host to one of world’s most important trade crossing — connecting the Far East with Europe. Nearly 50 per cent of container traffic and over 70 per cent of trade in energy sails through this region. Yet, despite being the fifth largest economy and at a strategic location,

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