Prime Minister Narendra Modi launched maritime projects worth ₹23,000 crore and unveiled a long-term vision document for India’s blue economy at the third edition of the Global Maritime India Summit 2023 in Mumbai on Tuesday.
Virtually inaugurating the conference, Modi underscored the role of sea routes in global trade and emphasised the need for a reliable global supply chain in a post-pandemic world.
The new blueprint ‘Amrit Kaal Vision 2047’, outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration, an official statement said.
Addressing the summit , Modi said history bears testimony that India’s maritime capabilities have always benefited the world and listed the systematic steps undertaken to strengthen the sector in the last few years. In the past decade, Modi said the capacity of India’s major ports had doubled, and turnaround time for big vessels has come down to less than 24 hours as compared to 42 hours in 2014.
Modi mentioned the construction of new roads to increase port connectivity and touched upon the Sagar Mala Project to strengthen the coastal infrastructure. These efforts, Modi said, are increasing employment opportunities.
Modi said that Next Generation Mega Port, International Container Trans-shipment port, island development, inland waterways, and multi-modal hub will be undertaken to reduce business cost. He said investors have a great opportunity to become part of this campaign and join India.
Speaking about defence production, Modi talked about the government’s focus on the ship-building and repair sector. Modi, according to the official statement mentioned earlier, said the indigenous aircraft carrier INS Vikrant is proof of India’s capacity.
“India is going to become one of the top five ship-building nations in the coming decade. Our Mantra is ‘Make in India – Make for the world’”, Modi said, adding that the government is working to bring together all stakeholders in the sector through maritime clusters.
“We are moving towards a future where the Blue Economy will be the medium to create a Green Planet,” Modi said.
The Prime Minister underlined that work is underway in India for the big players in the maritime sector to enter the country and mentioned GIFT City in Ahmedabad which has launched ship leasing as a financial service while offering discounts at the same time, the statement said.
“India has a vast coastline, strong riverine eco-system and rich cultural heritage which create new possibilities for Maritime Tourism ,” Modi said.
Modi said India is one of the few countries which has such a combination of Development, Demography, Democracy and Demand. “At a time when India is moving towards the goal of becoming a developed India by 2047, this is a golden opportunity for you”, Modi said.
The first Maritime India summit was held in 2016 in Mumbai while the second one held virtually in 2021.
