Ocean Economy: India Flexing Muscles in Indian Ocean and Beyond
New Delhi (Sputnik) – India has historically been preoccupied by land based threats, be it from China or Pakistan, with whom India has fought a number of wars. India’s priority has therefore been primarily to guard its land boundaries. Although India has a strong navy, it never ventured into the arena of becoming a naval power.
“The Government of India’s initiative to promote maritime activities is important for several reasons. With the onset of globalization world trade is growing faster. Maritime transport handles 78 percent of the world trade by volume and over 70 percent by value. India’s sea borne trade is 90 percent by volume and 70 percent by value. So a major effort is required on the part of the government to promote maritime trade so that India gets larger share in terms of its own ships carrying its trade. Because it’s also a strategic objective that Indian goods should be carried in the Indian ships,” former Indian ambassador to the Philippines and Tajikistan, Yogendra Kumar told Sputnik in an exclusive interview.