Anglo-Eastern Group, the Hong Kong-headquartered ship management conglomerate, has signed an Memorandum of Understanding (MoU) with the Directorate General of Shipping of India (DG Shipping) to add at least 1,000 Indian seafarers every year till 2024-25 to the conglomerate’s existing pool of 21,000 Indian seafarers.

The MoU has been signed by Mr Vineet Gupta, Managing Director, Anglo-Eastern Ship Management India on behalf of Anglo-Eastern Group and Mr Shyam Jagannathan (IAS), Director General of Shipping on behalf of Government of India’s Directorate General of Shipping. The MoU copy states that the economic impact of generating 3000 jobs for Indian seafarers by Anglo Eastern Group by the year 2024-25 will be approximately Indian Rs 900 crore.

Mr Vineet Gupta, Managing Director, Anglo-Eastern Ship Management India, said, “This MoU signed with DG Shipping is primarily aimed at bringing more shipboard berths to Indian seafarers, generate more jobs for Indians and hence contribute a sizeable sum of foreign currency to India’s exchequer every year. We are partners in the vision of DG Shipping to keep increasing numbers of Indian seafarers in global shipping.”

“It is good to point out that ‘Anglo-Eastern Indian seafarers’ bring close to half a billion dollars home every year. This is a large contribution of one single company in improving foreign currency reserve of India as at any given time as there are more than 11,000 Indian seafarers on board Anglo-Eastern ships,” added Mr Gupta.

With 250 million Indian youth available as a young workforce, India stands out as the most powerful country to control all industries. Mr Gupta said that all global ship management companies including Anglo-Eastern Group should hence take advantage of this abundant availability of educated, smart and hardworking Indian youth. “The supply of highly able Indian manpower can easily be trained for this niche ship management industry in the country in a high quality maritime training infrastructure, guided by thousands of skilled merchant navy officers of India and leaders of the Indian maritime industry,” said Mr Gupta.

Anglo-Eastern Group is one of the largest employers of Indian seafarers and also operates a world-class maritime training institute near the city of Mumbai, Anglo Eastern Maritime Academy which offers job security to its successful students.