Chinese and Indian demand for commodities like coal and iron ore has led to a global shipbuilding boom. Rising labour costs in developed markets have induced a shift in the shipbuilding industry to low-cost countries, including China. India is a late entrant to the game but is now positioning itself as a serious player.
The government plans to increase India’s market share of global shipbuilding to 7.8 per cent by 2017. Indian economic growth has made maritime trade more important...
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