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17 CONVOCATION
7. Big Data & Analytics

8. Immersive Reality
9. 5G

10. Cybersecurity
Each of these would perhaps need a week to shift through the depth of research and
work done and hence I shall refrain from elaborating and only state that all current
knowledge has a very short shelf life and gets updated quickly. The hallmark of a
knowledge-based society is the intellectual capital which is a pre- requisite for
investing in innovations- we need to groom this investment capital. India has the 3rd
largest startup ecosystem in the world- expected to witness a year-on-year growth of
a consistent annual growth rate of 12 to 15 %, in 2018 we had 50000 startups, which
today has made Indian Startups raise sizable ticket size global and domestic
funding. We may grapple with questions like 87% of all investment of decarbonizing
shipping is needed for production and bunkering of alternate fuels, 60% of all goods
are loaded and discharged in the developing countries and 12% of all investment is
needed in new ship engines and storage space loss. We need to connect solution
seekers and providers – find solutions for challenges and create opportunities for
solution providers and entrepreneurs – in brief the entire approach paradigm to
Driving Innovation and Research in the Maritime Sector. We may pontificate and
research but the most important of all elements is the human element and that
should always be foremost. This is something I urge all the young minds to bear in
mind.
TECHNOLOGY SHALL DRIVE TRANSITION
Technology has been leveraged as a major tool to empower. The National Logistics
Portal- marine, a single window logistics portal was launched on 27th January 2023.
It is a single platform to perform all core activities of the Importer/ Exporter/
Customs Broker/ Freight Forwarder with end-to-end functionality to perform self-
clearance digitally online transactions with custodians. The benefits are.
(a) Providing a level playing field to relevant stakeholders (large and small) the
increasing competition.
(b) Complete domestic tracking of the shipment with notifications on each stage

(c) Document management system to store all the important documents security on
cloud storage.
(d) Reduced costs and timeframes for execution of trade and logistics operations

(e) Paperless transaction, for all the stakeholders including Business Intelligence
reporting and data analytics.

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