Admitting that the Coast Guard faces shortage of manpower, the defence minister hoped that challenges faced by the agency would be solved soon.
"Necessary steps are being taken to strengthen the search and rescue infrastructure of Indian Coast Guard," he said.
As a member of the International Cospas-Sarsat programme for alert and position location service through Low Earth Orbit Search and Rescue satellite system, India has established two Local User Terminals at Lucknow and Bangalore.
"The fully indigenous geostationary satellite -- INSAT-3A covers about one-third of the globe, including Europe, Africa, Asia and Australia," Antony said.
The Indian Coast Guard has been playing a vital role in ensuring Safety of Life at Sea not only in the vast Indian Search and Rescue Region that extends over four million square kilometers, but also in adjoining Search and Rescue Regions whenever requested for assistance by the neighbouring countries.
The agencies involved in search and rescue operations should think of ways and means to increase cooperation in maritime sphere, he said, adding, "Technology and resources like fuelling and medical facilities must be shared for mutual benefit."
Stating that India attaches 'more importance' to the safety and rescue operations in the maritime sector, Naval Chief Admiral Sureesh Mehta urged for better coordination between the agencies involved to share information.
He also said there is an urgent need for institutionalising total exchange of information on vessels plying in the nation's waters on the lines of an institute for civilian air traffic.
Speaking on the occasion, Union Minister of State for Defence Pallam Raju said Indian Coast Guard has been very active in developing cooperation with the SAR agencies of the region and beyond and has been a source of inspiration to the nascent organisations, recently taking shape in the Indian Ocean region.