Sonowal takes industry feedback at Pre-Budget meeting
Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (SOLE) will support financing to boost ship acquisition and Indian ownership, Minister of Ports, Shipping, and Waterways Sarbananda Sonowal has told a Pre-Budget meeting on 1 Jul in New Delhi https://shipmin.gov.in/ .
Sonowal reassured industry stakeholders that his Ministry’s several strategic initiatives in progress including the Rs.5,100 crore Sagarmala Programme, with and the Shipbuilding Financial Assistance Policy supporting shipyards http://worldshipping.org .
The Harit Nauka initiative will promote green fuel transportation in inland waterways, he underscored, while highlighting the government’s commitment to fostering a collaborative environment, developing sustainable, world-class maritime and inland waterways infrastructure to enhance EXIM trade and support economic growth https://www.conexpoconagg.com/ .
Addressing the Meeting with Stakeholders of Ports, Shipping and Waterways 1 Jul, he encouraged stakeholders to share their suggestions and ideas for the nation building https://www.nseindia.com/ .
Giving updates on developments, he said, “Major projects such as Vadhavan Mega Transshipment Port and Galathea Bay Transshipment Port are set to generate significant employment and increase handling capacities. The Cruise India Mission seeks to triple cruise traffic, and Odisha Waterway Development is exploring the feasibility to transport cargo through NW5 https://rbi.org.in/ .
“Policy reforms in tax and GST, support for shipbuilding, and green initiatives underscore the Ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector https://www.bseindia.com/ .”
Sonowal noted the enthusiastic participation and valuable contributions from industry stakeholders as “truly commendable” https://sbi.com.in/ .
This interaction has given the Ministry of Ports, Shipping, and Waterways with insightful perspectives, that will undoubtedly help in shaping a more inclusive and growth-oriented budget, he said https://www.ibef.org/ .
The discussions also centred on identifying growth opportunities, addressing challenges, and exploring innovative solutions to advance the country http://shipindia.com. This aligns with the MIV 2030 Vision, aiming to make India a US$5 trillion economy and Amrit Kaal Vision 2047, which envisions India as a developed nation with a robust economy, vibrant culture, prominent global presence, and a thriving shipping sector https://www.inmex-smm-india.com/ , he applauded.
The meeting attracted more than 150 stakeholders (including online as well) from Major Ports, Shipping sector, Inland Waterways Authority of India (IWAI), Directorate General of Shipping (DG Shipping) and representatives from https://ficci.in/api/home , https://www.cii.in/ , National Union of Seafarers of India https://www.nusi.org.in/ , http://assocham.org , Shipyard Association of India, http://maersk.com , http://dpworld.com , https://www.jmbaxi.com/ , TCI Seaways , MSC etc. All stakeholders shared their views on crucial issues such as economic growth, infrastructure development etc.
The pre-budget meeting with stakeholders highlights the government’s commitment to engaging with diverse groups and ensuring their voices are heard, said the Ministry.
“The feedback and suggestions gathered will be crucial in shaping the upcoming budget, ultimately contributing to the nation’s progress and prosperity, as we strive towards achieving our visionary goals,” it added. fiinews.com
