Rising freight costs during the pandemic and dependency on foreign shipping lines have remained a point of frustration for Indian exporters competing globally. With plans for the country to be a global manufacturing hub and achieve $1 trillion in manufacturing exports by 2028, the Federation of Indian Export Organisations (FIEO) sees a need to control shipping costs and the transport of its exports. FIEO has, once again, put forward the idea of an Indian shipping line of a global standard to be included in this year’s budget. “India needs a shipping line of its own if it wants to become a serious manufacturer and exporter on the global stage, and the budget offers an opportunity to set the ball rolling on this front, “ said Ajay Sahai, DG and CEO of the Federation of Indian Export Organisations (FIEO). The Federation requested that larger Indian businesses be encouraged to invest in a shipping line, and the government should accommodate this into the budget. On 1 February, India will announce its budget for 2023. In addition to controlling exports, Sahai noted the financial benefits a local shipping line would bring to the country. “Last year, we remitted around $86 billion as transport freight charges only. The way our exports are increasing, this figure will cross $100 billion. And if we have an Indian shipping line that gets even 25% of this business, we would save around $25 billion a year, “said Sahai at ET Online’s Rising Bharat Summit. According to Economic Times India, India contributes 3.1% to global GDP but lags behind in export share with only 1.6%. The country sees great potential in improving these numbers. Exporters have asked for government help in the form of adjusted export customs duties, fiscal support and assistance with marketing to remain competitive.