STUDY OF INDIAN VESSEL FLEET GROWTH FROM 2003 TO 2012

Shipping plays an important role in the transport sector of India's economy. Approximately, 90 per cent of the country's trade by volume (70 per cent in terms of value) is moved by sea. India has the largest merchant shipping fleet among the developing countries and ranks 20th amongst the countries with the larges t cargo carrying fleet with 8.83 million GT and the average of the fleet being 18 years. Indian maritime sector facilities not only transportation of national and international cargo but also provides a variety of other services such as cargo handling services, shipbuilding and ship repairing, freight forwarding, lighthouse facilities and training of marine personnel .