PM Modi Inaugurates Global Maritime India Summit 2023, Unveils Vision for Blue Economy

• In a significant development, Prime Minister Shri Narendra Modi inaugurated the third edition of the Global Maritime India Summit 2023 via video conferencing today. During the event, he also unveiled ‘Amrit Kaal Vision 2047,’ a blueprint for India’s maritime blue economy. In alignment with this visionary plan, the Prime Minister inaugurated and laid the foundation stone for projects worth over Rs 23,000 crores dedicated to the ‘Amrit Kaal Vision 2047.’ The summit, which focuses on the maritime sector, serves as a prime platform for attracting investments.

Prime Minister Modi highlighted India’s commitment to becoming a developed nation in the next 25 years and underscored the government’s dedication to bringing revolutionary changes across sectors. He emphasized the transformative efforts made in the maritime sector, with notable achievements over the last decade. Major ports in India have doubled their capacity, significantly reducing turnaround times for vessels, from 42 hours in 2014 to under 24 hours. Additionally, the government has been constructing new roads to enhance port connectivity and is advancing the SagarMala Project, strengthening coastal infrastructure, which has resulted in increased employment opportunities and an improved quality of life.

“Government’s vision of ‘Ports for Prosperity and Ports for Progress’ is bringing transformational changes at the ground level,” Prime Minister Modi noted, highlighting the mantra of ‘Ports for Productivity.’ He emphasized the government’s commitment to enhancing economic productivity by streamlining the logistics sector and modernizing coastal shipping modes, which have led to a doubling of coastal cargo traffic over the last decade, providing a cost-effective logistic option.

Regarding inland waterways development, the Prime Minister revealed that the cargo handling on national waterways has increased fourfold, demonstrating significant progress in India’s logistics performance over the last nine years.

Prime Minister Modi underlined the government’s focus on the ship-building and repair sector, pointing to the INS Vikrant, India’s indigenous aircraft carrier, as evidence of the nation’s capacity. He declared India’s ambition to become one of the top five ship-building nations in the coming decade, embracing the ‘Make in India – Make for the world’ mantra. The government is actively working to bring together stakeholders through maritime clusters and establish ship-building and repair centers at multiple locations. India’s position as the second-largest ship-recycling nation was also acknowledged.

In a forward-looking initiative, the government is striving to make major ports in India carbon-neutral by adopting a net-zero strategy for the sector. Prime Minister Modi’s vision is to create a sustainable future where the Blue Economy becomes the means to achieve a Green Planet.

The Global Maritime India Summit 2023 marks a significant milestone in India’s pursuit of a thriving maritime sector, underlining its commitment to innovation, sustainability, and economic growth.