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Home Banking & Finance

PM invites global investors to participate in maritime development

Fiinews by Fiinews
March 2, 2021
in Banking & Finance, Infrastructure, Investment, Projects
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Prime Minister invites global investors to participate in the Indian Blue Economy development.

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Maritime India Vision-2030 released

Prime Minister Narendra Modi has invited global investors to be a part of India’s growth trajectory including the maritime sector and the emerging Blue Economy.

Inaugurating the ‘Maritime India Summit 2021’ through video conference on 2 Mar 2021, he said the focus is on developing the entire sector as one and not on piecemeal basis.

“India’s long coastline awaits you. India’s hardworking people await you. Invest in our ports. Invest in our people. Let India be your preferred trade destination. Let Indian ports be your port of call for trade and commerce,” he told participants at the summit.

Capacity of major ports have increased from 870 million tonnes in 2014 to 1,550 million tonnes now, Modi said in giving an update on the sector’s development. Indian ports now have measures such as: Direct port Delivery, Direct Port Entry and an upgraded Port Community System (PCS) for easy data flow.

“Our ports have reduced waiting time for inbound and outbound cargo,” he said, adding that mega ports with world class infrastructure are being developed in Vadhavan, Paradip and Deendayal Port in Kandla.

The Prime Minister also released an e-book ‘Maritime India Vision-2030’ which aims to upgrade the Indian Maritime Industry at par with benchmarks of top global ports in the next 10 years.

He also unveiled the e-plaque of ‘Sagar-Manthan: Mercantile Maritime Domain Awareness Centre (MM-DAC)’. It is an information system for enhancing maritime safety, search and rescue capabilities, security and marine environment protection.

The three-day summit is rated as one of the biggest virtual events in the world, with the participation of more than 1.7 lakh registered participants from more than 100 countries. The participants include ministers from 8 countries, more than 50 global CEOs and more than 160 speakers. #maritime #ports #development #economy #infrastructure #investment /fiinews.com

Tags: The Prime Minister
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