Modi inaugurates Maritime India Summit, says 400 projects worth Rs 2.25 lakh crore await investors

Modi inaugurates Maritime India Summit, says 400 projects worth Rs 2.25 lakh crore await investors

New Delhi, March 2, 2021

Prime Minister Narendra Modi today inaugurated the Maritime India Summit 2021 and invited investors for 400 projects with a potential of Rs 2.25 crore drawn up by the Ministry of Ports, Shipping and Waterways.

Speaking on the occasion through video conference, the Prime Minister invited the world to come to India and be a part of its growth trajectory.

“India is very serious about growing in the maritime sector and emerging as a leading blue economy. Through the focus areas of upgradation of infrastructure and other reforms, India aims to strengthen the vision of Aatmanirbhar Bharat,” he added.

The capacity of major ports increased from 870 million tonnes in 2014 to 1550 million tonnes at present. Indian ports now have Direct port Delivery, Direct Port Entry and an upgraded Port Community System (PCS) for easy data flow. The ports have reduced waiting time for inbound and outbound cargo. Mega ports with world-class infrastructure were being developed in Vadhavan, Paradip and Deendayal Port in Kandla, he said.

“Ours is a Government that is investing in waterways in a way that was never seen before. Domestic waterways are found to be cost-effective and environmentally friendly ways of transporting freight. We aim to operationalise 23 waterways by 2030.”

He pointed out that India has as many as 189 lighthouses across its vast coastline. “We have drawn up a programme for developing tourism in the land adjacent to 78 lighthouses. The key objective of this initiative is to enhance the development of the existing lighthouses and their surrounding areas into unique maritime tourism landmarks,” he added.

Steps were also being taken to introduce urban water transport systems in key states and cities such as Kochi, Mumbai, Gujarat and Goa.

The Government has recently widened the ambit of the maritime sector by renaming the Ministry of Shipping as Ministry of Ports, Shipping and Waterways so that work happened holistically. It was also focusing on the domestic shipbuilding and ship repair market. To encourage domestic shipbuilding, approval has been given to the Shipbuilding Financial Assistance Policy for Indian Shipyards.

The Prime Minister said the Ministry of Port Shipping and Waterways has created a list of 400 investable projects. These projects have an investment potential of $ 31 billion or Rs 2.25 lakh crore.

Talking about the Maritime India Vision 2030, he said It outlines the priorities of the Government. The Sagar-Manthan: Mercantile Marine Domain Awareness Centre launched today is an information system for enhancing maritime safety, search and rescue capabilities, security and marine environment protection.

The Sagarmala project for promoting port-led development was announced by the Government in 2016. As part of the programme, more than 574 projects for $ 82 billion or Rs 6 lakh crore have been identified for implementation from 2015 to 2035.

Ship repair clusters will be developed along both coasts by 2022. The domestic ship recycling industry will also be promoted to create 'Wealth from Waste'. India has enacted the Recycling of Ships Act, 2019 and agreed to the Hong Kong International Convention, he said.

The Prime Minister expressed the desire to share India’s best practices with the world and also to learn from global best practices. Continuing with India’s focus on trade and economic linkages with the BIMSTEC and IOR nations, the country plans to enhance investment in infrastructure and facilitate mutual agreements by 2026, he said.

The Government has initiated holistic development of island infrastructure and ecosystem. It was keen to promote the use of renewable energy in the maritime sector. Solar and wind-based power systems were being installed at all the major ports across the country. It also aimed at increasing the share of renewable energy to more than 60% of total energy by 2030 in three phases across Indian ports.

Denmark’s Minister of Transport Benny Englebrecht, Chief Ministers of Gujarat and Andhra Pradesh and Union Ministers Dharmendra Pradhan and Mansukh Mandaviya were amongst those present at the conference.

NNN

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