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The Global Maritime India Summit 2023 witnessed a significant moment of progress as Prime Minister Narendra Modi inaugurated the event via video conferencing from Mumbai. Amid the summit, he presented ‘Amrit Kaal Vision 2047,’ outlining a transformative roadmap for India’s maritime blue economy. The occasion also marked the inauguration and dedication of projects exceeding Rs 23,000 crores, closely aligned with this visionary plan. These projects are poised to catalyze growth and investment opportunities in the maritime sector.
Welcoming the Global Maritime India Summit 2023
Prime Minister Modi extended a warm welcome to participants at the third edition of the Global Maritime India Summit, highlighting the challenges posed by the COVID-19 pandemic during the 2021 summit. In his address, he emphasized the evolving global order, with the world now looking to India with fresh aspirations.
The Prime Minister underlined India’s economic resilience amid the ongoing global economic crises, asserting that India is progressing steadily and is on course to become one of the top three economies worldwide. He stressed the critical role of sea routes in global trade and the necessity of a dependable global supply chain in a post-COVID-19 world.
Historical Significance of India’s Maritime Capabilities
Prime Minister Modi acknowledged India’s historic contributions through its maritime capabilities, outlining the steps taken in recent years to bolster this sector. He cited the transformative impact of the proposed India-Middle East Europe Economic Corridor, drawing parallels with the historical Silk Route’s impact on global trade.
Amrit Kaal Vision 2047 and Transformative Projects
The Prime Minister elucidated key components of ‘Amrit Kaal Vision 2047,’ which encompasses initiatives like the Next Generation Mega Port, International Container Trans-shipment port, island development, inland waterways, and a multi-modal hub. These projects, aligned with the vision, aim to reduce business costs, improve logistical efficiency, and generate employment opportunities.
Government’s Focus on Maritime Sector
Prime Minister Modi emphasized the government’s commitment to strengthen India’s maritime sector, citing examples of doubled capacity at major ports, reduced turnaround times for vessels, and enhanced port connectivity through new roads. He also highlighted the SagarMala Project’s contributions to coastal infrastructure development.
‘Ports for Prosperity’ and ‘Ports for Progress’
The government’s vision of ‘Ports for Prosperity’ is bringing about transformative changes, and the Prime Minister mentioned the promotion of ‘Ports for Productivity.’ Initiatives to enhance economic productivity, streamline logistics, and modernize coastal shipping modes were highlighted, including the significant growth of coastal cargo traffic in the last decade.
The Prime Minister emphasized India’s growing capacity in the shipbuilding and repair sector, citing the indigenous aircraft carrier INS Vikrant as a testament. He underlined India’s path to becoming one of the top five ship-building nations in the coming decade.
Toward a Greener Future: Carbon-Neutral Ports
Prime Minister Modi announced the government’s efforts to make major ports in India carbon-neutral through a net-zero strategy. This move aligns with India’s commitment to a future where the Blue Economy will contribute to a greener planet.
The Prime Minister invited investors to participate in India’s maritime sector and highlighted initiatives such as ship leasing through GIFT City in Ahmedabad, where global ship leasing companies have registered. He urged other ship leasing companies to join GIFT IFSC.
Maritime Tourism and Heritage
India’s rich maritime heritage and extensive coastline offer opportunities for maritime tourism. Prime Minister Modi noted the world’s longest river cruise service, plans for an International Cruise terminal in Mumbai, and modern cruise terminals in Visakhapatnam and Chennai.
An Open Invitation for Investment
In conclusion, Prime Minister Modi extended an open invitation to global investors, emphasizing India’s unique combination of Development, Demography, Democracy, and Demand. He urged investors to seize the golden opportunity and join India’s path to development.
The event was attended by the Union Minister for Ports, Shipping, and Waterways, Shri Sarbananda Sonowal.
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