The Comptroller and Auditor General (CAG), in its report tabled in Parliament earlier this week, has criticised the government for not ensuring a "level playing field" for Indian shipping companies.
According to the report, the government failing to take concrete steps on policy issues such as a conducive tax regime, grant of infrastructure status to the industry, empowering Transchart to fix share of cargo to be moved by Indian vessels, etc. had resulted in Indian-flagged ships being unable to avail of the country's growing international cargo traffic.
"There is a need to expedite action on above concerns to provide Indian shipping players a level playing field to facilitate them to compete effectively with global players," the CAG said in its performance audit report on the Shipping Corporation of India (SCI).
Despite the stupendous growth in India's ex-im trade over the last few years, the share of Indian ships in the carriage of the country's overseas trade fell from 14 per cent in 2005-06 to 8 per cent in 2008-09.
According to the report, the government failing to take concrete steps on policy issues such as a conducive tax regime, grant of infrastructure status to the industry, empowering Transchart to fix share of cargo to be moved by Indian vessels, etc. had resulted in Indian-flagged ships being unable to avail of the country's growing international cargo traffic.
"There is a need to expedite action on above concerns to provide Indian shipping players a level playing field to facilitate them to compete effectively with global players," the CAG said in its performance audit report on the Shipping Corporation of India (SCI).
Despite the stupendous growth in India's ex-im trade over the last few years, the share of Indian ships in the carriage of the country's overseas trade fell from 14 per cent in 2005-06 to 8 per cent in 2008-09.
Source: Exim News Service - NEW DELHI, Sept. 6
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