Mumbai - Indian industries involved in exporting and importing cargo should change their “approach” and reach a “consensus” on building strong local shipping and shipbuilding industries in their long-term interest, said Takeshi Hashimoto, chief executive officer of Japan’s Mitsui O.S.K. Lines, Ltd. (MOL), the world’s second-largest fleet owner.

Hashimoto’s comments assume significance in the wake of a raft of announcements by finance minister Nirmala Sitharaman in the budget to rejuvenate the two underperforming industries despite a long coastline and huge market.

Will the announcements spur the shipbuilding industry, for . . .