Guwahati, Nov 5: Although 90 per cent of India's foreign trade (by volume) is conducted through maritime routes, the country is heavily dependent on foreign vessels, for which it spends around Rs 6 lakh crore annually. To deal with the issue, the Government of India has chalked out an ambitious plan to transform the country into a major shipbuilding hub.

The Minister in charge of Ports, Shipping and Waterways, Sarbananda Sonowal, told The Assam Tribune that a ship-building financial assistance scheme of Rs 24,736 crore has been created by the Government of India and the country should be self-sufficient on vessels within the next 25 years.

Currently only about 5 percent of India's EXIM cargo is carried on in Indian owned or flagged ships and for the rest 95 per cent the country is depen

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