PM Narendra Modi launched Maritime projects worth Rs 23000 crore on Tuesday with the Mantra- “Make in India- Make for the World” at Maritime India Summit 2023, Mumbai. He unveiled long-term vision documents for the blue economy. Modi essentially opened the conference virtually by highlighting the importance of maritime routes for international trade and the necessity of a dependable global supply chain in the post-pandemic era.
The “Amrit Kaal Vision 2047” blueprint outlines strategic initiatives aimed at
- Enhancing Port Facilities,
- Promoting Sustainable Practices, and,
- Facilitating International Collaboration- said in an official statement.
Key Issues in the Maritime Sector:
- Ports of the future
- Decarbonization
- Coastal Shipping
- Inland Water Transportation
- Ship Building
- Repair and Recycling
- Finance
- Maritime Clusters
- Maritime Tourism
Projects:
During the 3rd edition of the Global Maritime India Summit PM Modi
- Laid the foundation stone of the Tuna-Tekra All-Weather Deep-Draft Terminal at Deen Dayal Port Authority In Gujarat which is worth Rs 4500 crore. This greenfield terminal will be developed in PPP mode (Public-Private-Partnership) which will act as a gateway for Indian Tade via the India-Middle East-Europe-Economic-Corridor (IMEEC).
- This will emerge as an international trade hub that will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs).
- PM dedicated more than 300 Memorandums of Understanding (MoUs) worth Rs 7.16 lakh crore for global and national partnerships in the Maritime Sector.
Modi Remarks:
In his remarks at the summit, Modi stated that history shows how India’s maritime prowess has always benefited the global community and he enumerated the methodical measures that have been done in recent years to bolster the industry. According to Modi, during the last ten years, the capacity of India’s principal ports has doubled, and the turnaround time for large vessels has decreased from 42 hours in 2014 to less than 24 hours.
“We are moving towards a future where the Blue Economy will be the medium to create a Green Planet,” Modi said.
“In the next ten years, India will rank among the top five countries in the world for shipbuilding. “Our motto is ‘Make in India – Make for the world,'” Modi declared. The government is attempting to unite all parties involved in the industry via maritime clusters, he added.
