Prime Minister Modi Launches Global Maritime India Summit 2023
Inaugurating the Global Maritime India Summit 2023 via video conferencing, Prime Minister Narendra Modi unveiled the ambitious ‘Amrit Kaal Vision 2047,’ a comprehensive blueprint aimed at propelling India’s maritime blue economy into the future.
Blueprint for Growth
This vision outlines strategic initiatives that focus on enhancing port facilities, promoting sustainable practices, and facilitating international collaboration, all designed to strengthen India’s maritime sector.
In line with the Amrit Kaal Vision, PM Modi inaugurated, dedicated to the nation, and laid the foundation stone for a series of projects worth an impressive Rs 23,000 crores, aligning with the country’s maritime aspirations.
Over 300 Memorandums of Understanding (MoUs), totaling more than Rs 7 lakh crore, were signed, further solidifying India’s global and national maritime partnerships.
A Glance at India’s Maritime Prowess
PM Modi highlighted India’s rich maritime history and its longstanding contributions to the world. He emphasized that India’s maritime capabilities have always had a positive global impact.
The Prime Minister emphasized the systematic steps taken in recent years to strengthen the maritime sector.
He mentioned the transformative impact of the India-Middle East Europe Economic Corridor, which is set to change the face of global trade, similar to the historical Silk Route.
The plan includes the development of Next Generation Mega Ports, International Container Trans-shipment Ports, island development, inland waterways, and multi-modal hubs. These projects aim to reduce business costs, enhance environmental sustainability, and create jobs.
A New Beginning
Prime Minister Modi emphasized the global changes underway and highlighted how the world is increasingly looking to India with new aspirations.
India’s Economic Growth
He noted that India’s economy continues to strengthen, even amid global economic challenges, with a promising future to become one of the world’s top three economies.
The Prime Minister underlined the critical role of sea routes in global trade and the importance of a reliable global supply chain in the post-COVID world.
A Resolute India
PM Modi stated that the country is committed to becoming a developed nation in the next 25 years, with revolutionary changes occurring in various sectors, including the maritime industry.
Over the past decade, the capacity of major ports in India has doubled, while the turnaround time for large vessels has significantly decreased.
Infrastructure development, including new roads for improved port connectivity, and projects like the SagarMala have increased employment opportunities and improved the quality of life for many.
The Government’s vision of ‘Ports for Prosperity and Ports for Progress’ is bringing about transformative changes at the grassroots level.
The ‘Ports for Productivity’ mantra is being encouraged, promoting economic productivity by enhancing the efficiency and effectiveness of the logistics sector.
Coastal shipping modes in India are being modernized, with coastal cargo traffic doubling over the last decade, offering cost-effective logistic solutions.
The development of inland waterways in India has led to a fourfold increase in cargo handling on national waterways. India has also improved its Logistics Performance Index over the past nine years.
Ship-building and Repair
PM Modi spoke of India’s focus on the ship-building and repair sector, highlighting the capacity demonstrated by the indigenous aircraft carrier INS Vikrant.
Make in India
India aspires to become one of the top five ship-building nations in the coming decade, with a strong commitment to ‘Make in India – Make for the World.’
Maritime clusters are being established, with ship-building and repair centers in development.
Sustainable Maritime Sector
Efforts are underway to make major Indian ports carbon-neutral through a net-zero strategy for the sector, as India aims to create a ‘Green Planet’ through its Blue Economy.
The Prime Minister noted that India is actively welcoming major players in the maritime sector, inviting them to invest and be part of India’s growth journey.
Financial Services and Maritime Tourism
Gift City in Ahmedabad has introduced ship leasing as a financial service.
India’s vast coastline, rich cultural heritage, and strong riverine ecosystem provide new opportunities for maritime tourism.
PM Modi mentioned the ancient Lothal Dockyard and the upcoming National Maritime Heritage Complex.
A Promising Cruise Hub
India is moving towards becoming a global cruise hub with state-of-the-art infrastructure, including the world’s longest river cruise service, an international cruise terminal in Mumbai, and modern cruise terminals in Visakhapatnam and Chennai.
The Prime Minister invited investors from around the world to join India’s path to development, as the nation works toward becoming a developed country by 2047.
Union Minister’s Presence
Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, was also present during the summit.
Key Summit Highlights
The summit discussed essential maritime sector issues, including future ports, decarbonization, coastal shipping, shipbuilding, repair and recycling, finance, insurance, arbitration, maritime clusters, innovation and technology, maritime safety and security, and maritime tourism.
Continued Global Engagement
This event serves as an excellent platform for attracting investment in India’s maritime sector and has drawn significant