Union Shipping Minister Nitin Gadkari today said a relaxation to the cabotage rules, which make it difficult for foreign flagged vessels to handle cargo between two domestic ports, can be expected in a fortnight.
"We need to only take the approval of the Prime Minister. And we will release the order as early as possible ...Within 15 days," Gadkari said during a session at the 'Make in India Week' here.
So far, the cabotage policy in India allowed first preference to Indian flagships over cargo and foreign vessels.
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Cargo and foreign ships were allowed only when no suitable Indian flag vessel is available for the same.
Indian importers and exporters use Colombo, Salalah (Oman), Singapore and Dubai hubs for shipments, adding to their costs.
At present, about 60 per cent of India's exports and imports containers are transshipped through ports like Singapore and Colombo.
This transshipment through ports outside the country involves not only huge expenditure but also extra 7-10 days of transit time.
India has 12 major ports which fall under the Centre's jurisdiction and about 200 non-major ports under the control of states.
