HK company Caravel Group buys maritime body

NEW DELHI: Hong Kong-based

Caravel Group

Acquire has announced the acquisition of

International Maritime Institute

, a leading maritime training institute, and is seeking to upgrade the facility in greater Noida to ensure that more Indian seamen get to command ships.
India is among the top global suppliers of seamen, next only to the Philippines, and group, which has a fleet of over 700 vessels, is also looking at expanding its involvement in the country, although the promoters cited policies around taxation and capital (both debt and equity) as factors that hinder having more Indian flag vessels.