Government focuses on shipbuilding and ship repair market
India is on the cusp of major maritime revolution and requires a vibrant and strong maritime industry for both economic and strategic reasons, Sarbananda Sonowal, Minister of Ports, Shipping and Waterways, has told an industry conclave.
“The goals set to achieve in the ‘Maritime India Vision 2030’ will help accelerate the growth of the sector and aspire to bring the Indian maritime industry at par with the top global benchmark in the next 10 years,” he said at the Indian Ports & Logistics Conclave ‘Developing Ports for the Future: New India@75’, which was organized by FICCI on 27 Aug 2021.
Sonowal added, “Port development in India is guided by the flagship Sagarmala program and the Maritime India Vision 2030.”
Stressing upon the importance of reducing logistic cost in the country, he highlighted that the recently passed Inland vessel Act, 2021, will usher a new era in the inland water transport sector to make the legislative framework user friendly and promote ease of doing business.
Sonowal stated that the government is also focusing on the domestic shipbuilding and ship repair market. “To encourage domestic shipbuilding, the Shipbuilding Financial Assistance Policy for Indian Shipyards has been approved.”
The Ministry, he pointed out, has achieved significant progress through port-led development, policy initiatives, provision of multi-modal services for logistic movement through inland waterways, ease of doing business, improving ship building and recycling techniques and measures to facilitate flagging of vessel in India.
“Consistent efforts have been put towards development of a robust and sustainable infrastructure for facilitating transformation of the sector into an engine of growth for India,” Sonowal underlined.
Dr Sanjeev Ranjan, Secretary, Ministry of Ports, Shipping and Waterways, elaborated on the Maritime India Vision 2030, saying that the government is working towards positioning the Indian maritime sector at par with international standards by attracting domestic as well as international investments.
Talking about the recently launched National Monetization Pipeline (MNP), Dr Ranjan explained that the government’s move to monetize shipping assets worth approximately Rs12,000 crore through NMP will open new range of opportunities and will help in promoting Atmanirbhar Bharat.
Rizwan Soomar, CEO and MD (Indian Subcontinent), DP World, highlighted the role of ports and logistics sector in shaping the future of the Indian economy.
Dhruv K. Kotak, Managing Director, JM BAXI, applauded the ministry for their path breaking initiatives which will transform the Indian Maritime sector. He highlighted the importance of moving towards IT enabled infrastructure for benchmarking Indian Ports with global standards.
FICCI Secretary General Dilip Chenoy welcomed the Minister’s first ever interaction with the industry members, and assured the commitment of FICCI and its members towards achieving the government’s vision of developing world class ports.
The program was attended by Chairmen of major ports and stalwarts from industry including DP World, Adani Ports, Essar Ports, JSW Group, JM BAXI, Indian National Shipowners’ Association, CISCO, APM Terminals Pipavav, Association of Multimodal Transport Operators of India, CJ Darcl Logistics Ltd, Damen Shipyards Gorinchem B.V., Larsen & Toubro Limited, Steel Authority of India, Indian Oil Corporation Ltd, TCI Seaways, Petronet LNG Limited, Aegis Logistics Ltd, amongst others. #investment #infrastructure #maritime #manufacturing #ports /fiinews.com
