Coastal states-port cities will become key centres for growth
Prime Minister Narendra Modi dedicated Vizhinjam International Deepwater Multipurpose Seaport worth Rs 8,800 crore to the nation on 2 May, adding that the port economy reaches its full potential when infrastructure and ease of doing business are promoted together.
He emphasized that the Vizhinjam Deep-Water Sea Port has now emerged as a symbol of new age development. The capacity of this transshipment hub will triple in the coming years, enabling the smooth arrival of some of the world’s largest cargo ships https://www.commerce.gov.in/.
He pointed out that 75% of India’s transshipment operations were previously conducted at foreign ports, leading to significant revenue loss for the country.
Emphasizing that this situation is now set to change, he asserted that India’s money will now serve India and the funds that once flowed outside the country will now generate new economic opportunities for Kerala and Vizhinjam’s people https://ted.europa.eu/en/.
He highlighted that what set India apart from other nations during that era was its maritime capacity and the economic activity of its port cities.
Noting that Kerala played a significant role in this maritime strength and economic growth, he highlighted Kerala’s historical role in maritime trade, emphasizing that through the Arabian Sea, India maintained trade links with multiple nations. He noted that ships from Kerala carried goods to various countries, making it a vital hub for global commerce https://sbi.com.in/.
“Today, the Government is committed to further strengthening this channel of economic power,” he added and asserted, “India’s coastal states and port cities will become key centres for the growth of a developed India”.
He highlighted that the government has accelerated efforts for industrial activities and holistic development of states https://www.nseindia.com/.
He further remarked that the Central Government, in collaboration with state governments, has upgraded port infrastructure under the Sagarmala Project and strengthened port connectivity while waterways, railways, highways and airways are being rapidly integrated for seamless connectivity https://www.conexpoconagg.com/.
He added that these reforms in ease of doing business have led to greater investment in ports and infrastructure sectors.
Noting that major ports in the country have reduced ship turn-around time by 30%, improved operational efficiency, he remarked, “India’s maritime success is a result of a decade-long vision and effort https://www.bseindia.com/.”
India has doubled the capacity of its ports and expanded its National Waterways eightfold while two Indian ports are among the global top 30 ports, highlighted the Prime Minister, pointing out that India’s ranking on the Logistics Performance Index has also improved.
Additionally, he pointed out that India is now among the top 20 countries in global shipbuilding.
The Prime Minister further remarked that after strengthening the country’s basic infrastructure, the focus has now shifted towards India’s strategic position in global trade.
Underscoring the critical role of the private sector in elevating India’s maritime industry to new heights, Modi said that under Public-Private Partnerships, thousands of crores have been invested over the past 10 years.
He emphasized that this collaboration has not only upgraded India’s ports to global standards but has also made them future-ready. The private sector participation has driven innovation and enhanced efficiency.
India is also advancing towards the establishment of a shipbuilding and repair cluster in Kochi which, once completed, will create numerous new employment opportunities, providing Kerala’s local talent and youth with a platform for growth.
The Prime Minister further stated that India is now setting ambitious targets to strengthen its shipbuilding capabilities. Fiinews.com
