India, once a maritime super power, has lost its way and has fallen off the global shipping map. Foreign ships carry 92% of India’s total trade and are paid $75 billion annually for it. Indian ships remained unaffected, but there weren’t enough of them available for Indian traders to get a competitive advantage. When the world began to use steel to build ships, India lost out. Clarksons Research, a global shipping research company, has warned that global demand for ships, which has been strong for a while, will start tapering.

Source: Mint December 21, 2025 15:31 UTC