"PM Modi Unveils ₹23,000 Crore Maritime Projects"

In a significant development, Prime Minister Narendra Modi presided over the launch of maritime projects valued at ₹23,000 crore and unveiled a comprehensive vision document for the blue economy. This visionary document delineates a strategic roadmap aimed at bolstering port infrastructure, advocating sustainable practices, and fostering international collaboration, according to an official statement.

The occasion was marked by the inauguration, dedication to the nation, and the laying of the foundation stone for projects exceeding ₹23,000 crore, all in alignment with the 'Amrit Kaal Vision 2047' for India's maritime blue economy. This momentous event took place during the third edition of the Global Maritime India Summit.

The summit will serve as a platform for discussing and deliberating key issues relevant to the maritime sector, including the future of ports, decarbonization, coastal shipping, inland water transportation, shipbuilding, repair and recycling, finance, maritime clusters, and maritime tourism, among other pertinent topics.

Among the notable initiatives unveiled by the Prime Minister was the foundation stone laying for the Tuna-Tekra all-weather deep-draft terminal, which is slated for construction at a cost exceeding ₹4,500 crore at the Deendayal Port Authority in Gujarat. This greenfield terminal is set to be developed through a public-private partnership (PPP) arrangement and is expected to emerge as a pivotal international trade hub. It will be equipped to handle next-generation vessels, surpassing 18,000 twenty-foot equivalent units (TEUs), and will serve as a gateway for Indian trade through the India-Middle East-Europe Economic Corridor (IMEEC).

Prime Minister Modi also dedicated over 300 Memorandums of Understanding (MoUs) worth more than ₹7.16 lakh crore, emphasizing global and national collaborations within the maritime sector.

The Global Maritime India Summit has garnered participation from ministers representing a diverse array of countries, spanning Europe, Africa, South America, and Asia, including regions such as Central Asia, the Middle East, and BIMSTEC. The event, which has attracted a diverse array of attendees including global CEOs, business leaders, investors, officials, and other maritime stakeholders, is set to provide valuable insights into the future of the maritime industry.

In addition to the national leadership, various states will also be well-represented at the summit, with ministers and dignitaries in attendance, contributing to the rich and diverse dialogue shaping the maritime sector's future.

ET