INDUSTRY NEWS

Japan-America-India meet to enhance maritime transportation infrastructure and promote prosperity, stability and peace in the world

Published Date | 2018 December 4

Partnership between the three countries is termed as JAI which will strengthen maritime transportation infrastructure, promoting prosperity and peace
India: The government of three countries discussed about the strategic partnership, under which three leaders agreed for free, inclusive, open and rule based orders essential for regional peace and prosperity. The leaders also agreed to the central role of ASEAN and will together work on maritime and connectivity issues to synergise efforts. Government will strongly focus towards maritime by initiating technology cooperation centres expanding with large number of branch offices and implementing strategies on the reduction of GHG emissions from ships. There is a need for technical cooperation, capacity building, and R&D to strengthen maritime trade and security. Governments will together collaborate to meet these demands and enhance trade through seaways.    According to BlueWeave Consulting, maritime imports and exports are significant for an economy as it plays a fundamental role in terms of transportation of goods. Rapid globalization has triggered maritime industry due to its substantial role in developing economies trade, major developing countries such as India and China highly depends on the industry for its export and import, thus the security of maritime has become crucial in recent years as it involves the trade of valuable goods. According to the upcoming report by BlueWeave Consulting on “Global Maritime Security Market, By Type, By End-user, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2025”, in recent years maritime terrorism, drug trafficking, gun-running, piracy, and non-traditional seaborne attacks have phenomenally increased and threatening several nations. Global maritime security is a rising concern of securing the sea lines of communications in international relations. Maritime security is vital to national as well as human safety, and it is linked to economic development. Hence maritime security plays essential role in economic development which will surge the demand for maritime security market over the years.