In News:

In a bid to enhance India’s clout in the global merchant shipping sector, the government recently hosted a two-day global maritime conference – Sagarmanthan: The Great Oceans Dialogue.

Key Highlights:

• Purpose of the Conference:

• To enhance India's maritime influence and position India as a key player in the global maritime sector, especially in merchant shipping and maritime trade.
• To showcase India's ambitions in expanding its role in global maritime trade, governance, and collaboration.

• India's Maritime Ambitions:

• Despite being the most populous nation and one of the largest global economies, India’s maritime clout has been relatively lower than expected.
• The dialogue aims to shift global attention towards India's growing role and contributions to maritime trade and shipping.

• India's Maritime Growth:

• India contributed to 16% of global maritime growth in 2023 and is on track to become the third-largest global economy within three years.
• As India’s economic and geopolitical influence expands, maritime governance will become increasingly significant, necessitating deeper international collaborations in commerce, connectivity, and trade.

• Focus Areas of the Dialogue:

• Global Maritime Trade: India's expanding role in international shipping, trade routes, and maritime security.
• International Collaborations: Promoting deeper engagement in maritime governance and policy-making ecosystems.
• Human Well-being: Highlighting the role of maritime trade in supporting human welfare, particularly in the context of sustainable development and climate change.

• Significance for India:

• The conference serves as a platform to discuss India’s aspirations, policies, and presence in global maritime affairs.
• It is an opportunity to strengthen maritime relations and address issues of global relevance such as trade routes, shipping governance, and environmental sustainability