HomeShipping & Logistics‘Investment opportunities over Rs.10 lakh crs. in maritime sector’

‘Investment opportunities over Rs.10 lakh crs. in maritime sector’

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Addressing the Curtain Raiser for the upcoming Global Maritime India Summit 2023, Union Minister of Ports, Shipping & Waterways and Ayush, Mr. Sarbananda Sonowal emphasised the vital role of the maritime sector in India’s economic progression and the potential it holds for the Asia-Pacific region. “India can lead from the front,” said Sonowal. 

He added that India’s maritime sector is poised for growth, owing to proactive government policies around ports, shipping and inland waterways.

The event he said is aimed at unlocking potential for new investment opportunities along with collaborations for knowledge and technology to enhance cooperation in trade and promote Ease of Doing Business (EODB).

“With an identified investment opportunities of more than Rs. 10 lakh crores in the maritime sector of the country, we are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth of India”.

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.

Mr. Sonowal further added, “We invite all the maritime stakeholders in India and globally to be part of these investment opportunities.  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.”

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.

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