Rajya Sabha updated on 150 initiatives under MIV 2030 vision
Detailed Project Reports (DPRs) are being prepared for nine coastal jetties in Goa to boost cargo volume, reduce traffic, and improve inland transport, Minister of Ports, Shipping & Waterways Sarbananda Sonowal updated Rajya Sabha on 3 Dec https://shipmin.gov.in/.
Meanwhile, an International and Domestic Cruise Terminal, along with a Ferry Terminal at Mormugao Port, Goa, costing an estimated Rs.101.72 crores, is scheduled for completion by March 2025, he said https://www.globaltenders.com/.
To further boost cruise activities, the Central Government launched the Cruise Bharat Mission in 2024, he added.
These efforts are to increase cargo include building new terminals, expanding existing ones, enhancing connectivity, upgrading equipment, and promoting coastal shipping through subsidies and reduced charges https://www.bseindia.com/.
The expected economic impacts of such development like creating jobs in transportation, hospitality, retail, and tourism, boosting local business revenue. It also improves local connectivity through enhanced inland waterway services, including ferry and RoRo (Roll-on/Roll-off) services, enabled by integrated cruise circuits, he said https://www.nseindia.com/.
Further, the Inland Waterways Authority of India (IWAI) intends to engage with Tamil Nadu’s Department of Tourism under a framework of MoU for potential cruise tourism development in Inland Waterways in the southern State.
Before taking up any developmental activity, DPR is prepared duly encompassing the economic benefits accruing to the catchment area and the recommendations of DPR are followed to the extent possible, he explained https://www.conexpoconagg.com/ .
Such projects would also benefit major industries along the River Banks of Tapi (NW-100), River Amba (NW-10), River Jaigad Creek-Shastri River (NW-91) which collectively moves around 98.67 MMT of Cargo on inland waterways https://www.jpx.co.jp/english/.
He also elaborated on the Maritime India Vision (MIV) 2030 which outlines 150 initiatives aimed at propelling India to global maritime leadership http://deutsche-boerse.com .
MIV 2030 provides a comprehensive framework for the holistic development of India’s maritime sector, encompassing ports, shipping, and waterways https://www.wto.org/.
Its 10 interconnected themes such as port infrastructure development, enhancing logistics efficiency, improving Indian shipbuilding tonnage, increasing coastal and waterway traffic, fostering technology innovation and policy support, promoting sustainability and global collaboration, address every facet of the maritime ecosystem, ensuring a well-rounded approach to transforming India into a leading maritime nation https://sbi.com.in/.
The status of MIV 2030 gets reflected through the progress made by the Indian Maritime sector over the past 3 years such as capacity at major ports have increased from 1,598 MMTPA in Financial Year 2022 to 1,630 MMTPA in Financial Year 2024 https://www.sgx.com/.
Over the past three years, there has been a 37% increase in the Capital Expenditure to Rs.7,571 crore in Financial Year 2024 (from Rs.5,527 crore in Financial Year 2022) by Ministry of Ports, Shipping and Waterways including a 54% increase in Gross Budget Support (GBS) to Rs.1,687 crore in Financial Year 2024 (from Rs.1,099 crore in Financial Year 2022) which is primarily towards the achievements of goals and targets outlined under MIV 2030 https://ted.europa.eu/en/.
In the past 3 years, around 75 port development projects have been awarded in category of Major Ports which includes projects for enhancement of cargo handling capacity and operational efficiency. Fiinews.com
