National Seminar on Good Order at Sea: India’s Role, February 18, 2016, UGC Centre for Maritime Studies, Pondicherry University
Prakash Panneerselvam, Post Doctoral Associate, National Institute of Advanced Studies, Bangalore
Indian Ocean is the metaphor of global economy. Accessibility to the Indian Ocean is undeniably important for the global maritime trade. Every day million gallons of crude oil, gas, other raw material and finished goods transit through Indian Ocean. Nearly, 50 percent of world trade passes through crucial straits in Indian Ocean. The emergence of China and India as major economic powerhouse in the 21st century will further intensify trade activity in the region. The number of ports in the Indian Ocean is gaining significant attention due to the quantum of goods passing through the region. Moreover, the presence of major refineries, large container terminals and dry dock facilities is making the region an economically and strategically important place in global maritime trade. This means security of Sea-Lane of Communication (SLOC) is critical for commerce, industry and security.