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The Indian shipping Industry plays a essential role in Indian economic system. As 90 percent of the Countries business by volume is done through sea. India has been the major merchant shipping fleet among the developing countries.
The Indian Shipping sector is governed by three different Acts such as The Merchant Shipping Act in 1958, The Inland Vessels Act in 1917 & The Coasting Vessels Act in 1838. Most of the vessels are authorized under Merchant Shipping Act and are dealt within the industry, smaller barges and coastal vessels are governed by the other 2 Acts.
Historically Shipping sector has catered to only domestic shipping demands, while the private sector organizations like Great Eastern Shipping Company and Essar Shipping are progressively getting involved in international cross trade.
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