NEW DELHI : The Government of India plans to set up a new shipping company to expand its fleet by at least 1,000 ships in the next decade, to gain revenue from trade. The yet-to-be-named firm will be jointly owned by state-run companies in the oil, gas and fertiliser industries.

The South Asian nation is spending billions of dollars to refurbish infrastructure in its race to become a world-class manufacturer with Prime Minister Shri Narendra Modi, who won a third term this week, aiming for . . .