| Code: 16718 |

TIN news:   Indian overseas trade is valued at $1,000 billion, of which an estimated 1% is carried on Indian ships,  The Business Standard reports
 
Much like mariners of yore waiting for monsoon winds to set sail, the Indian shipping industry awaits parliament's ratification of the International Maritime Labour Convention so as not to lose out on merchant traffic
 
With India yet to ratify the International Labour Organization adopted (ILO) Maritime Labour Convention (MLC)-2006, that provides for rights and safety standards for one million seafarers worldwide, Indian seafarers face inspections at international ports causing time and cost delays, as also affecting their employability.
 
The Indian shipping industry hopes parliament would accord its ratification to the convention during its ongoing monsoon session.
 
The Indian shipping industry contributes foreign exchange worth over $1.2 billion per annum to the country's exchequer.Currently around 110,000 Indian seafarers work in various positions aboard around 3,500 cargo vessels across the globe, MASSA said.
 
MASSA has recently written to Shipping and Transport Minister Nitin Gadkari on the matter and is hopeful that the new government will resolve the long pending issue.

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