Due to the unprecedented disruption caused by COVID-19, the global maritime trade has plunged by 4.1% in 2020. The pandemic has sent shockwaves through supply chains, shipping networks and ports, leading to plummeting cargo volumes and foiling growth prospects. However, the news that the vaccines may soon be available presents a ray of hope and in such a scenario it is expected that the maritime trade growth may return to a positive territory and expand by 4.8% in 2021, assuming the world economic output recovers.
At the same time, there is a dire need for the maritime and shipping industries to brace for change and be well prepared for a transformed post-COVID-19 world. This show comes right after a landmark moment where the Ministry of Shipping has been renamed as Ministry of Ports, Shipping and Waterways, thereby various autonomous bodies like the Port Trusts, the inland waterways Authority of India and the Shipping Corporation of India will also come under the Ministry.
The INMEX SMM India Virtual Expo & Conference will create a comprehensive platform for the Maritime industry, with key international and domestic exhibitor presence such as A.H Wadia, IR Class & DNV-GL Singapore, HydroComp, Inc, TrueProp Software LLC, Metalock Brasil Ltda. The visitor profile will include shipping and ship management companies, ship builders & designers, logistics providers, Indian Navy & Indian Coastguard, offshore & oil rig companies, Government officials and Port authorities.
Speaking on the announcement of the INMEX SMM India Virtual Expo and Conference, Mr. Yogesh Mudras, Managing Director, Informa Markets in India, said, “The Indian shipping industry plays a vital role in sustaining growth in the country's trade and commerce. On an average, 95 per cent of India's trading by volume and 70 per cent by value is done through maritime transport. In the last couple of years, the Centre has been giving tremendous impetus to both coastal shipping and IWT to reduce logistics cost to less than 10 per cent of GDP — on par with developed countries such as Germany — from the present 13 per cent.
Our objective in hosting the INMEX SMM India Virtual Expo & Conference is to create a comprehensive platform for the Maritime industry for vital business continuity, conversations and connections when face to face interactions are still deemed difficult,” he further added.
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About Informa Markets and our business in India
Informa Markets is owned by Informa PLC, a leading B2B information services group and the largest B2B Events organiser in the world. Informa Markets in India (formerly UBM India) is India's leading exhibition organizer, dedicated to help specialist markets and customer communities, domestically and around the world to trade, innovate and grow through exhibitions, digital content & services, and conferences & seminars. Every year, we host over 25 large scale exhibitions, 40 conferences, along with industry awards and trainings across the country; thereby enabling trade across multiple industry verticals. In India, Informa Markets has offices across Mumbai, New Delhi, Bangalore and Chennai. For further details, please visit –https://www.informamarkets.
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