By which year does India aim to become a globally competitive hub for shipbuilding, shipping and maritime services?
- A.2030
- B.2035
- C.2040
- D.2047
Correct answer
Explanation
The correct answer is 2047. The aim set out during the Busan meetings is to make India a globally competitive hub for shipbuilding, shipping and maritime services by that year, which also marks a century of independence. Options A, B and C name earlier years and are therefore incorrect for this particular target. Supporting this goal, India has approved a shipbuilding support package of about 7.8 billion dollars, mega shipbuilding clusters are under development, and an order pipeline of more than 400 vessels worth an estimated 23 billion dollars has been projected. At Busan the minister also offered Korean financiers the Maritime Development Fund and the Sagarmala Finance Corporation as routes for investment, while a Korean shipping line showed interest in the upcoming Vadhvan Port.
Read the full article: Sonowal in Busan: Cyprus Backs India's Ship Recycling Bid
Practice Questions
Which country reaffirmed support for India's bid to win European Union recognition for its ship-recycling yards?
- A.South Korea
- B.Cyprus
- C.Greece
- D.Malta
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Its Shipping Deputy Minister, Marina Hadjimanolis, met the Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, at Busan and repeated her country's backing for India's effort to secure European Union recognition for eligible Indian ship-recycling facilities.
Read the full explanation →The proposed India Ship Technology Center is intended to serve as a national platform for which of the following?
- A.Ship design, research, testing and training
- B.Registration of foreign-flagged vessels
- C.Auctioning of port concessions
- D.Marine insurance and claims settlement
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During the meeting with the President of the Korea Marine Equipment Research Institute, the minister described the centre as a national platform for exactly these functions, adding that testing and certification carried out within India, with Korean technical expertise, would help Indian-made marine equipment meet international standards and prepare Indian…
Read the full explanation →How many central labour laws have been consolidated into the four Labour Codes?
- A.Nineteen
- B.Twenty-four
- C.Twenty-nine
- D.Thirty-four
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Twenty-nine central labour laws have been merged into four Labour Codes, and the exercise came with a set of threshold changes that are easy to ask about.
Read the full explanation →How much foreign direct investment did India receive between FY 2014-15 and FY 2025-26?
- A.USD 313 billion
- B.USD 500 billion
- C.USD 843 billion
- D.USD 1,020 billion
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India drew that much foreign direct investment over the twelve financial years from FY 2014-15 to FY 2025-26, which is 169 per cent more than in the twelve years before it.
Read the full explanation →Which department recognises startups under the Startup India initiative?
- A.NITI Aayog
- B.Department for Promotion of Industry and Internal Trade
- C.Department of Economic Affairs
- D.Ministry of Micro, Small and Medium Enterprises
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It also runs the Startup India Seed Fund Scheme, the Fund of Funds for Startups and the Credit Guarantee Scheme for Startups.
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