Indian Shipping Line To Run To Australia
SYDNEY, Aug. 18. The Indian Government is forming a £10,000,000 company to operate a shipping line between India and Australia, according to the Indian Trade Commissioner in Australia, Mr. A. Baksi. He added that Jhe company’s name would be the India-Eastern Overseas Corporation. The Indian Government would find 51 per cent, of the capital, the India Steam Navigation Company, 26 per cent, and the public 23 per cent. Two 10,000 ton ships—the West Bengal now in Melbourne and the Bombay how in Sydney, would begin trading this month. Trade between Australia and India for the list financial year amounted to about £52,000.000 compared with £4,000,000 in 1938-39. Similar shipping corporations would be established to handle trade with the Continent,and the United States.
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Gisborne Herald, Volume LXXVI, Issue 23028, 19 August 1949, Page 5
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129Indian Shipping Line To Run To Australia Gisborne Herald, Volume LXXVI, Issue 23028, 19 August 1949, Page 5
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