Unveiling his Government’s vision to increase the country’s port capacity from 1,400 million tonnes (MT) to 3,000 million tonnes by 2025, Prime Minister Narendra Modi said here on Thursday that the Centre wanted to mobilise an investment of Rs1 lakh crore in the port sector and it planned to set up five new ports to the increasing demand of the Exim trade.
Inaugurating the first-ever Maritime India Summit at Bombay Convention and Exhibition Centre at Goregaon in not Mumbai, the Prime Minister said: “During the last two years, major ports have awarded 56 new Projects involving an investment of more than 250 billion rupees. This will create an additional port capacity of 317 million tonnes per annum. Our vision is to increase port capacity from 1400 million tonnes to 3000 million tonnes by 2025. We want to mobilise an investment of one lakh crore, or one trillion rupees, in the Port Sector to enable this growth”
“Five new ports are planned to meet the increasing demand of the Exim trade which will rise in proportion with the fast-growing Indian economy. New ports are also being developed by several coastal States of India,” Modi said.
Modi said that the multiple measures to promote Coastal Shipping coupled with the anticipated rise in domestic production of coal, would enhance coastal transportation of coal by at least four fold by 2025. “We are engaging with our immediate and regional neighbours to promote shipping and maritime security,” he said.
The PM said that India had recently signed a Coastal Shipping Agreement with Bangladesh which would be mutually beneficial. “India is also engaged in the development of Chahbahar Port in Iran. A special purpose vehicle by the name India Ports Global limited has been established to take up Maritime Projects overseas,” he said.
Alluding to 250 projects with investment opportunity in the Maritime Sector being showcased at a three-day maritime summit that began here on Thursday, Modi said the projects that were being promoted at the summit included various infrastructure development opportunities in 12 major ports, projects in eight maritime states and other agencies. “Of these, over 100 projects have been identified under the Sagarmala Programme,” he said.
The PM said that with more than 14,000 kilometers of navigable inland waterways in the country, there was tremendous potential for development in this sector. “My Government is committed to integration in infrastructure. We are also committed to creating an enabling environment for investors and to facilitate investments with an open mind,” he said.
Modi said that as part of the Sagarmala programme the Centre – in collaboration with coastal states — would adopt a comprehensive approach with focus on capacity building and training, upgrading of technology and for improving physical and social infrastructure.
The PM said that the initiatives being taken by the shipping ministry would help generate employment opportunities of approximately ten million jobs over the next ten years. The employment generated included four million direct and six million indirect jobs. “To broaden livelihood opportunities further, we are planning to deploy modern and sophisticated fishing vessels. This would enable them to harness resources in India’s Exclusive Economic Zone. In addition, we are also focusing on value addition in fisheries, aquaculture and cold chain development,” he said.
Making a strong case for countries collaborating with each another to realize the potential in the port sector, the Prime Minister said: “No country can achieve the desired results in isolation. Nations have to collaborate to realize this potential and to overcome challenges in this sector. The objective of this Summit is to provide a platform and forum for such cooperation”.
Exhorting foreign entrepreneurs to invest in a big way in the maritime sector in a big way, the Prime Minister said: “This is the right time to come to India. It is even better to come through the sea route. The Indian ship is well equipped for a long haul. Don’t miss it”.
Earlier, the Prime Minister released the National Perspective Plan detailing the contours of Sagarmala, the government’s flagship program to promote port-led development in the country.
Briefing media persons about the National Perspective Plan, Union Minister for Shipping Nitin Gadkari said the plan has been drafted after detailed consultations with key stakeholders in the central and state governments, public sector companies as well as private players from shipping, ports, ship-building, power, cement and steel sectors. “It takes forward Sagarmala’s vision of substantially reducing export-import and domestic trade costs with a minimal investment,” Gadkari said.