Prime Minister Narendra Modi has inaugurated the Third Edition of the Global Maritime India Summit via video conferencing. The Summit will be held from 17th October to 19th October 2023. In his address to the gathering today, the Prime Minister emphasized that India’s economy is continuously growing stronger, even in a world grappling with economic crises. He expressed optimism that the day when India ranks among the top three economies in the world is not far off. He conveyed that this decision was reached during the G20 leader’s summit, thanks to India’s proactive efforts. The Economic Corridor is expected to have several positive impacts, including the reduction of logistical costs, contributions to environmental conservation, and the creation of numerous employment opportunities.
Additionally, He said that India will become one of the top five ship-building nations in the coming decades. He emphasized the motto “Make in India, Make for the World”, indicating India’s commitment to producing goods not only for domestic consumption but also for international markets. To achieve this goal, India is working on an integrated approach that will bring shipbuilders from around the world together through the development of maritime clusters. Furthermore, he pointed out the Aircraft Carrier INS Vikrant as evidence of India’s accomplishments.
Port Capacity Doubled
The Prime Minister mentioned that the capacity of major ports in the country has doubled over the last decade. This is an example that India’s ability to do trade has improved.
Improved Turn-Around Time
Mr. Modi also noted that the turn-around time for container vessels at Indian ports has substantially improved. This means that the duration taken for a vessel between its departure and arrival in the port is essential for efficient logistics and trade operations.
Connectivity Enhancement
The Union Government has invested a lot in infrastructure development to enhance the connectivity of ports. This infrastructure improvement is vital for seamless transportation and trade facilitation.
Sagarmala Project
The government is actively working on the Sagarmala project, which aims to strengthen the infrastructure in coastal areas of approximately 7500 km. This project focuses on the development of ports, logistics, and related industries, thereby boosting the maritime economy.
Amrit Kaal Vision 2047
The Prime Minister unveiled the ‘Amrit Kaal Vision 2047,’ (means after 25 years) a comprehensive plan for India’s maritime blue economy. This visionary plan outlines the country’s long-term goals and strategies for the maritime sector, aligning with the nation’s aspirations for the year 2047. The ‘Amrit Kaal Vision 2047,’ the Prime Minister inaugurated and laid the foundation stone for projects worth more than 23,000 crores rupees.
Chief Minister of Goa Pramod Savant, Chief Minister of Maharashtra Eknath Shinde, Governor of Maharashtra Ramesh Bais, Ports, Shipping and Waterways Union Minister Sarbanand Sonwal were joined at the summit.
