A ferry service between Indian ports Tuticorin and Cochin ports and the ports of Kulhudhuhfushi & Male ports of Maldives was formally launched on September 21, 2020. This comes a year after PM Modis’ visit to the country in 2019. The cargo service will be carried out via the cargo vessel MCP Linz of Shipping Corporation of India (SCI).
It will be an advantage to northern part of Maldives and will assist in decentralising the economic activities. India has planned to provide a $3 million subsidy on the ferry service. “Fulfilled the important commitment of PM Modi to the Maldives last year. The service will increase people to people contact between the two countries and assist in ensuring food security and stable and predictable trade for the people of Maldives,” Mansukh Mandaviya commented during the virtual launch of the service. The service will provide the Tuna exporters of Maldives access to the Indian Market. The exporters would also get access to the European market since the Cochin port has connectivity to Europe on weekly basis through the 6500 TEU Vessel.
India is among the top importing countries trading with Maldives. The top exports of Maldives to India are waste and scrap of Copper, aluminium and iron which are only 0.07% of total import of these products by India.
You must be logged in to post a comment.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.