Maritime Trade Regulatory Framework In India: Current Landscape, Historical Evolution, Challenges, And Future Directions

GABRIEL

doi:10.36948/ijfmr.2023.v05i05.8231

Maritime Trade Regulatory Framework In India: Current Landscape, Historical Evolution, Challenges, And Future Directions

Author(s)	GABRIEL
Country	India
Abstract	This comprehensive article explores the multifaceted regulatory framework governing maritime trade in India. Beginning with a historical overview of maritime regulation in India, tracing its roots from ancient civilizations to colonial rule and post-independence reforms, it provides a contextual backdrop for understanding the current landscape. The article meticulously dissects the key components of India's maritime regulatory framework, highlighting the significance of laws such as the Merchant Shipping Act, 1958, and the Major Port Trusts Act, 1963. It also sheds light on the role of customs regulations, the Directorate General of Shipping (DGS), and international conventions in shaping this framework. Recognizing the challenges that the maritime sector faces, the article discusses pressing issues such as infrastructure bottlenecks, bureaucratic inefficiencies, safety concerns, and the need for regulatory reforms. It underscores the urgency of modernization and adaptation to international standards and security protocols. Furthermore, the article delves into recent initiatives and reforms, including the Sagarmala Project and the National Maritime Policy, aimed at revitalizing the maritime sector and enhancing its competitiveness. It also discusses the digitalization efforts and ease-of-doing-business measures undertaken to streamline processes and reduce red tape. Lastly, the article contemplates the future prospects of India's maritime regulatory framework. It emphasizes the importance of infrastructure development, sustainability, digitalization, security, regulatory flexibility, and the promotion of coastal shipping as essential components of India's maritime strategy. In conclusion, this article paints a comprehensive picture of India's maritime regulatory landscape, from its historical evolution to its current challenges and future aspirations, emphasizing the nation's commitment to fostering a dynamic and thriving maritime trade ecosystem.
Keywords	Maritime Trade, Regulatory Framework, Maritime Regulation, Indian Maritime Trade
Published In	Volume 5, Issue 5, September-October 2023
Published On	2023-10-30
Cite This	Maritime Trade Regulatory Framework In India: Current Landscape, Historical Evolution, Challenges, And Future Directions - GABRIEL - IJFMR Volume 5, Issue 5, September-October 2023. DOI 10.36948/ijfmr.2023.v05i05.8231
DOI	https://doi.org/10.36948/ijfmr.2023.v05i05.8231
Short DOI	https://doi.org/gs3hdh

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Maritime Trade Regulatory Framework In India: Current Landscape, Historical Evolution, Challenges, And Future Directions

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