Maritime India Summit 2016 update

Ministry of shipping
Ministry of shipping

The maiden Maritime India Summit, 2016 was organised by the Ministry of Shipping in Mumbai from April 14th – 16th, 2016. The objective of the Summit was to create awareness of the untapped potential of Indian maritime sector and showcase investment opportunities. The focus was on presenting India as an attractive investment destination.

The Summit was inaugurated by Hon’ble Prime Minister of India on 14th April, 2016, to mark the 125th birth anniversary of Dr. B.R. Ambedkar, who is the Architect and Founding Father of our Constitution and the creator of the water and river navigation policy in India. Hon’ble Prime Minister also released the National Perspective Plan of the Sagarmala programme on the occasion. The release of National Perspective Plan firmly places the ports and national waterways at the centre-stage of national development agenda.

Secretary General of International Maritime Organisation, Mr. Kitack Lim and Minister of Oceans and Fisheries, Republic of Korea, Mr. Kim-Young Suk also addressed the gathering during the Inaugural Session. Shri Rajnath Singh, Hon’ble Home Minister was the Chief Guest at the Valedictory Session.

Republic of Korea was the Partner Country for the Summit. A delegation from Republic of Korea led by Minister of Oceans and Fisheries along with two Deputy Ministers, senior Government officials and representatives of over 50 maritime sector companies participated in the Summit. Maharashtra was the host state for the summit and provided all necessary support for successfully hosting the summit in Mumbai.

More than 5200 delegates from across the world participated in the Summit. Eleven Union Ministers, Chief Ministers/ Ministers from 4 Maritime States in India and Union Ministers of state participated in the Summit. Other Maritime States had official level participation. Participation of Minister led delegation from eight countries lent importance to the summit.

The 3 day exhibition organized during 14-16 April, 2016 drew enthusiastic response from 197 exhibitors including 81 international companies, 80 Indian private sector companies and 36 Government owned entities.

An exclusive CEOs’ Forum of select industry leaders was held to deliberate on the potential and growth opportunities in the Indian Maritime Sector. Thirty Eight CEOs comprising 19 CEOs of multinational companies and 19 CEOs from the Indian maritime sector companies participated in the forum.

Thirteen thematic sessions and three special sessions were organised, on Sagarmala, shipbuilding, hinterland connectivity, port modernisation and new port development. Sessions on maritime states and maritime nations were also organised. More than 80 eminent speakers from various countries shared their vision and experience and interacted with the audience.

The Summit also provided a unique platform to forge new partnerships with other countries. On the sidelines of this Summit, high level bilateral meetings were held with 12 participating countries. Over 300 B-2-B meetings were held between interested stakeholders for exploring potential business tie-ups which in due course is expected to yield positive outcomes.

More than 140 business agreements were signed during the Summit. The value of investments in these 140 projects is around $ 13 Billion (approximately Rs. 83,000 crores). The Ministry of Shipping also showcased around 240 projects which present investment opportunities in the sector in India in the next few years. The investment potential of these projects is around $ 66 Billion (Rs. 4.34 lakh crores).

To follow up on the investment proposals and provide assistance to potential investors, an Investment Facilitation Cell has been constituted in the Ministry of Shipping to support investors and assist in follow-up of all Business Agreements that have been signed during MIS 2016.

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