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Projects: Rs.10 lakh crores opportunities identified in maritime sector

Fiinews by Fiinews
July 24, 2023
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Sonowal invites global investors and industry stakeholders to GIMS 2023

Investment opportunities of more than Rs.10 lakh crores have been identified in the maritime sector, Minister of Ports, Shipping & Waterways Sarbananda Sonowal announced at the curtain raiser launch of Global Maritime India Summit (GIMS) 2023.

“We are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth,” he informed on 18 July 2023.

“The huge potential of India’s marine sector can play a significant and pivotal role in elevating the economic cycle towards an Atmanirbhar Bharat by 2047,” he said.

The Government’s proactive policies around, ports, shipping and inland waterways will drive this growth. 

“As key driver of India’s maritime sector, our ministry has been organising the Global Maritime India Summit, to create value from the vast potential of India’s rich maritime sector,” he elaborated.

“The summit has been designed to explore and examine riches of India’s Blue Economy. We hope that the best minds of maritime sector will hedge their goodwill, intent, intelligence and skills to produce a roadmap for a sustainable development of maritime sector as well as our country.”

Sonowal has invited all the maritime stakeholders in India and globally to be part of these investment opportunities and join the summit.

“India is actively driving the establishment of 5,000 km of multi-country waterways, a significant initiative that will effectively facilitate trade and transportation across the region,” he said in a message to global investors and industry participants.

The forum will provide a platform for start-ups, researchers, incubators and innovators to showcase their technology & expertise. The focus areas of GMIS, 2023 are Ports of the Future; Decarbonization; Coastal Shipping & Inland Waterways Transportation; Shipbuilding, repair & recycling; Finance, Insurance & arbitration; Innovation & technology; Maritime Safety & Security and Maritime Tourism.

FICCI is the exclusive industry partner for GMIS 2023, slated for 17-19 October 2023 at Pragati Maidan, New Delhi.

Speaking on occasion, Minister of State for Ports, Shipping and Waterways Shripad Naik said, “The Global Maritime India Summit 2023 represents a crucial milestone in our efforts to position India as a global maritime hub.

“Through collaborative discussions and strategic partnerships, we aim to propel our maritime sector towards sustainable growth, bolstered by innovation and cutting-edge technology.” 

Rajiv Jalota, Chairman, Indian Ports Association & Mumbai Port Authority; Rajesh Kumar Sinha, Additional Secretary, Ministry of Ports, Shipping and Waterways; Bhushan Kumar, Joint Secretary (SM), Ministry of Ports, Shipping and Waterways; Rajesh Tandon, CEO, Foreign Owners Representative, Ship Managers Association; Anil Devli, CEO, Indian National Shipowners Association; Dhruv Kotak, Chairman, Ports & Shipping, FICCI Committee on Transport Infrastructure & MD, JM Taxi Group along with Shailesh Pathak, Secretary General, FICCI also spoke on the occasion. Fiinews.com

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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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