INMEX SMM India Expo to address the $250 bn Indian Shipping and Maritime Industry
INMEX SMM India, the premier trade exhibition for the shipping and maritime industries, is set to be held at the Jio World Convention Center, BKC, Mumbai from 1st – 3rd June 2022. The event will emphasize on crafting a platform for global manufacturers and suppliers to showcase their state-of-the-art products to the South Asian maritime market with over 100 brands. The conglomeration will also witness seminars and discussions on smart shipping & decarbonization, ship building – Creating Right Ecosystem Marine Insurance in India, Port Opportunities, and many more to transform the maritime and shipping sector in India.
Elaborating on the focus of this year’s edition, Mr Yogesh Mudras, Managing Director, Informa Markets in India, said, “Maritime transport is the most economical and sustainable way to transport large goods throughout the world. Today, around 90% of world trade is carried by the maritime industry, and it handles around 70% of India’s trading in terms of value. Moreover, India is a strategically located country with a coastline of approximately 7517 km. The Maritime India Vision that our Hon’ble Prime Minister launched in 2021 has identified over 150 initiatives to boost the Indian Maritime and Shipping sector. The vision serves as a blueprint to achieve an accelerated and coordinated development of India’s diverse maritime sector. Backed by massive reach and know-how in the Indian market, Informa Markets in India and Hamburg Messe und Congress are honored to have the opportunity to serve the shipping and maritime sector and highlight challenges and opportunities for the growth of the sector.”
Attendees to the three-day event will benefit from the multiple business opportunities existent within shipbuilding, shipyards, fittings and equipment, cargo handling systems, electrical engineering/electronics, technology, ports and port technology, ocean engineering, offshore marine technology, naval weapon systems and dredging to facilitate exposure of domestic and international players to the Indian market.
The key industry players participating in this event includes Mitsubishi, Suzuki Marine, Exalto Emirates, Chowgule Group, Aries Technical Sales & Service Pvt ltd, Indian Register of Shipping, Indian Navy, Teignbridge Propellers, Vulkan Technologies, Garden Reach Shipbuilders & Engineers Ltd, Scania, Moloobhoys amongst others. A B2B Buyers Programme will facilitate specialized meetings between exhibitors and buyers at the Maritime Business Lounge.
The Indian shipping and maritime sector, pegged at approximately $250 billion, is expected to grow at a 10–12% CAGR in the coming years. The government has been undertaking several initiatives such as the Sagarmala Programme, Ghogha – Hazira RoPAX Ferry, Port development, Merchant Shipping Bill, GST reduction, and Inland water transport to accelerate the growth of the shipping sector. Also, the Government of India has allowed Foreign Direct Investment (FDI) of up to 100% under the automatic route for port and harbour construction and maintenance projects. With adequate policy support and a growth in external trade, India’s shipping industry has immense potential to scale new heights and support India’s economic growth.
The expo is supported by the Indian Register of Shipping, Institute of Marine Engineers (India), National Maritime Foundation, Indian Port Association, Indian National Shipowners Association, ICC Shipping Association, Maritime Association of Nationwide Shipping Agencies, Foreign Owners Representatives & Ship Managers Association (FOSMA), Association of Multimodal Transport Operators of India (AMTOI), Maritime Training Guild, Konkan Maritime Cluster amongst others. Apart from industry professionals, key personnel from Shipowners, Ship management companies, the Ministry of Defense, Ministry of Shipping, Ministry of Commerce and Industry, National Shipping Board, Directorate of Procurement and Directorate of Quality Assurance, and Indian Navy, among others will be present at the show.
Source: INPEX SMM India