India’s Inland Waterways all set for Rapid Growth
India’s economic growth is directly proportional to its logistics sector and now inland waterways where the government has also given the green signal. Many major cities are inseparably linked to the rivers and situated on their banks. According to the Inland Waterways Authority of India reports, Inland Waterways has become one of the key leaders in economic development. There are innumerable benefits that are attached to inland waterways that include cost effectiveness, fuel efficiency and are environmental friendly.
Some of the key advantages that it has are low emissions, low energy consumption. Inland Water Transport (IWT) also has tremendous potential for cargo movement and tourism. The excellent environmental credentials, the high safety standards for shipments and the large carrying capacity of the vessels are just some of the outstanding features of this long standing mode of transport.
Talking about the development of Inland waterways in the report by the Inland Waterways Authority of India, Mr. Brijesh Lohia, Managing Director, Global Ocean Group explains, “India’s inland waterways today still hasn’t reached its full capacity by any stretch of imagination. Today, private sector needs to chip in with investments for overcoming the hassles in IWT. If it has to emerge as vibrant and flourishing centres for fostering large scale cargo movements and commercial use, a number of steps need to be taken which also includes a strong logistics department to make that movement.”
There are a several business opportunities through which Inland Waterways can grow as a business that include cargo movement, dredging works, construction, operation and maintenance of terminals, barge constructions and operations, navigational aids and many more.
For the inland waterways to be more successful, the logistics need to be stronger at any given point of time. This aspect of IWT has to grow parallel to it, only then would India be able to sustain that economic growth coming from this sector.