Rs.70,000cr to be invest via Shipyard schemes
Prime Minister Narendra Modi has laid foundation stone of a new container terminal and associated facilities at Syama Prasad Mookerjee Port, Kolkata, among other projects worth Rs.34,2000 crore he officiated from Bhavnagar, Gujarat, on 20 September, highlighting India’s maritime sector progress.
“All major ports in the country will be freed from multiple documents and fragmented processes. The implementation of ‘One Nation, One Document’ and ‘One Nation, One Port’ Process will simplify trade and commerce,” he said at the‘Samudra se Samriddhi’ event https://www.conexpoconagg.com/.
He informed that a series of reforms have been initiated in the maritime sector, and five maritime laws have been introduced in a new form. These laws will bring major changes in shipping and port governance.
He informed that over Rs.70,000 crore will be invested in schemes in the coming years for shipyards adopt modern technology, and improve design and quality standards He also announced a major policy reform under which large ships have now been accorded infrastructure status, a historic decision taken on 19 Sept to strengthen India’s maritime sector https://www.bseindia.com/.
He remarked that when a sector receives infrastructure recognition, it gains significant advantages.
The PM highlighted that shipbuilding companies will now find it easier to secure loans from banks and will benefit from reduced interest rates. All benefits associated with infrastructure financing will now be extended to these shipbuilding enterprises.
PM Modi emphasized that this decision will reduce the financial burden on Indian shipping companies and help them compete more effectively in the global market https://www.nseindia.com/.
Emphasising that to make India a major maritime power, the Government is working on three major schemes, and remarked that these initiatives will ease financial support for the shipbuilding sector.
He stated that India is now taking comprehensive steps to promote shipbuilding nationwide. He emphasized that shipbuilding is not an ordinary industry; it is globally referred to as the “Mother of All Industries” because it drives the growth of multiple allied sectors.
The Prime Minister highlighted that industries such as steel, machinery, electronics, textiles, paints, and IT systems are all supported by the shipping sector. He noted that this creates significant benefits for small and medium enterprises (MSMEs) https://sbi.com.in/.
Citing research, the Prime Minister stated that every rupee invested in shipbuilding generates nearly double the economic return. He added that every job created in a shipyard leads to six to seven new jobs in the supply chain, meaning 100 shipbuilding jobs can result in over 600 jobs in related sectors, underscoring the massive multiplier effect of the shipbuilding industry.
The Prime Minister further stated that focused efforts are being made to strengthen the essential skill sets required for shipbuilding. He remarked that India’s Industrial Training Institutes (ITIs) will play a key role in this initiative, and the Maritime University’s contribution will be further expanded https://www.conexpoconagg.com/.
“India’s coastlines will become gateways to national prosperity,” exclaimed the Prime Minister, adding that 40 percent of the cargo arriving via sea routes in India is handled by Gujarat’s ports which will soon benefit from the Dedicated Freight Corridor, enabling faster movement of goods to other parts of the country and further enhance port efficiency.
Background to the projects:
In a major boost to the maritime sector, Prime Minister inaugurated and laid the foundation stone for multiple development projects related to the maritime sector worth over Rs.34,200 crore. He inaugurated the Mumbai International Cruise Terminal at Indira Dock. He laid the foundation stone of a new container terminal and associated facilities at Syama Prasad Mookerjee Port, Kolkata; new container berth, cargo handling facilities, and associated developments at Paradip Port; the Tuna Tekra Multi-Cargo Terminal; firefighting facilities and modern road connectivity at Kamarajar Port, Ennore; coastal protection works including sea-walls and revetments at Chennai Port; sea-wall construction at Car Nicobar Island; a multi-purpose cargo berth and Green Bio-Methanol Plant at Deendayal Port, Kandla; and ship repair facilities at Patna and Varanasi.
In line with his commitment to holistic and sustainable development, Prime Minister inaugurated and laid the foundation stone of multiple projects of the central and state government, worth over Rs.26,354 crore, catering to various sectors in Gujarat. He inaugurated HPLNG Regasification Terminal at Chhara Port, Acrylics & Oxo Alcohol Project at Gujarat IOCL Refinery, the 600 MW Green Shoe Initiative, PM-KUSUM 475 MW Component C solar feeder for farmers, the 45 MW Badeli Solar PV Project, complete solarization of Dhordo village among others. He laid the foundation stone of LNG infrastructure, additional renewable energy projects, coastal protection works, highways, and healthcare and urban transport projects, including expansions at Sir T. General Hospital in Bhavnagar, Guru Govind Sinh Government Hospital at Jamnagar, and the four-laning of 70 km of national highways.
The Prime Minister also undertook an aerial survey of the Dholera Special Investment Region (DSIR), envisioned as a greenfield industrial city built around sustainable industrialization, smart infrastructure, and global investment. He will also visit and review the progress of National Maritime Heritage Complex (NHMC), at Lothal, being developed at a cost of around Rs.4,500 crore, to celebrate and preserve India’s ancient maritime traditions and serve as a centre for tourism, research, education and skill development. Fiinews.com
