Chairman and Managing Director of Indian Registrar of Shipping (IRS) Arun Sharma has stated that the country's maritime business is set to grow by 20 per cent annually to reach $80 billion by 2020. India's maritime business has a lot of opportunities, Arun Sharma said.
Sharma was speaking on the sidelines of the inauguration of INMEX INDIA 2013 maritime exhibition in Mumbai on October 8. Indian maritime sector handles 90 per cent of India's international trade.
At the three-day event, the products and solutions being showcased at the event include dredging, marine equipment, marine off-shore technology, ocean engineering, port equipment, port technology, ship repair, marine telecommunications and navigational equipment, ship-building and underwater robotics among others.