Export business hit by piracy in the Red Sea

According to an estimate, Indian exporters export goods worth $8 billion to Europe and $6 billion to America every month.

- India should have its own shipping line..

- At present, shipping and exporting traders are doing less profitable business. Longer shipping times can also reduce profits

- People involved in shipping seem to be tired of paying higher fares and higher premiums. Despite shipping insurance, exporting companies are not willing to venture into shipping the goods...

- For the business man who exports in small quantities, there is a situation of losing customers

Piracy which started in Ra Ta Sea has become a problem for India. People involved in shipping seem to be tired of paying higher fares and higher premiums. Despite shipping insurance, exporting companies are not ready to venture into shipping the goods. Merchant ships plying the night sea have the guise of sea pirates. Sometimes he takes the ransom and sometimes he takes the entire ship hostage. Due to which the exported goods arrive late. Due to which the cost of freight increases.

Diesel shipments from India to Europe have declined due to piracy. It says that for the past two months, Yemen-based Haitian rebels have attacked ships bound for Europe from India. According to a report, 1,8000 barrels of diesel were shipped to Europe in the first two weeks of February.

According to available data, no diesel or other such fuel was shipped to Europe in the last week. The fear of sea piracy is constantly increasing.

Now, for the past few days, Haitian rebels, supported by Yemen, have started targeting ships coming from India. If the ship is transported by other routes such as the Shoe Canal, it can be very expensive and the freight cost is also higher due to the extra days.

India is getting success in countering the fear of sea piracy in the Red Sea but the demand of the Federation of Indian Export Organizations is that India should set up its own shipping lines. 90 percent of India's exports are through shipping. In the past, when merchants traded by sea, pirates looted their goods. Pirates Raise Their Heads The Yemeni-backed Haitian rebels are ramping up piracy.

The fact that India should have its own shipping line is welcomed by everyone involved in the export business. If India's own shipping line is established, then India can benefit by 25 billion dollars per year.

At present, it can be said that India is dependent on export goods from shipping. India currently pays transport freight charges in crores. India received Rs 86 billion in remittances from transport freight charges alone last year. This figure may exceed 100 billion dollars. Even if we have our own shipping line and get 25 percent of the business, we can save 25 billion dollars a year.

At present India is dependent on foreign shipping lines. Due to which the exporters have no option but to pay more.

When India does not have its own shipping line, it has to pay more freight. Due to this, India cannot stand in comparison with the prices of other countries. In this situation, even if India has a manufacturing hub in the production of a particular product, it cannot stand in the price competition on the export table. Due to which Make in India and Make for the World cannot be very useful.

If India has its own shipping line, India can carry the goods of other countries, due to which the income of the country can increase.

The Indian government seems to be taking piracy in the night sea lightly. Due to which the courage of the pirates has increased. The rise in attacks has disrupted exporters' business while increasing insurance premiums. Out of the 450 billion dollars exported in India every year, 40 percent of the exports are done by exporters with low turnover.

Containers have become expensive for small traders who export low value. Some have already expressed their mood to do business after freight becomes cheaper.

Shipping companies will lay off staff due to fear of pirates shipping less goods. Many exporters have lost orders due to the problem of piracy in the Red Sea.

It is also a fact that no trader can afford to lose a customer who has been running for years. Haitian insurgents, who have risen to the occasion of piracy, have declared their support for Palestine in the Gaza war.

At present, shipping and exporting traders are doing less profitable business. Longer shipping times can also reduce profits.

For the business man who exports in small quantities, there is a situation of losing customers.

Merchants exporting to Europe and America used the night sea route. According to him, shipping is having a very bad time because of pirates. According to an estimate, Indian exporters export goods worth 8 billion dollars to Europe and 6 billion dollars to America every month.

Exporters who used to pay $600 for a container now have to pay $4,000. India's own shipping line could end up with many problems. India's own shipping line is the need of the hour. So the amount of export can also increase.

What is a shipping line?

India's own shipping lines means its own containers. Government of India keeps its own containers and rents them to exporters at cheap rates. When Kai exports his goods abroad, he needs a shipping line that can deliver the goods. Due to this, the goods do not spoil, saves time and is also cheaper. It is very expensive for a business man to have his own container. If you have your own shipping line, you can send your own container. A fleet of four to five containers can also be sent under the shipping line.