The Centre plans to spend about Rs70,000 crore on the development of major ports as part of its ambitious Sagarmala project. And with its port-led development framework, the Government hopes to increase its cargo traffic three-fold in the coming five years.
“Ports will play a huge role in achieving double digit GDP target and port, shipping and highways sector will very soon add two percent to the country’s GDP,” said Nitin Gadkari, Minister for Road Transport, Highways and Shipping. He was speaking at a Press interaction soon after chairing the first meeting of the National Sagarmala Apex Committee (NSAC) in the Capital on Monday.
“The consultants hired for the projects have sent in about 104 broad suggestions to increase efficiency, implementation of which is expected to result in cargo traffic increasing three-fold in the coming few years,” he said.
Gadkari said the Sagarmala project is aimed at holistic development along the 7,500-km-long coastline through modernisation, mechanisation and computerisation.
“At least 13 States and Union Territories, with a total population of 14 per cent of country’s overall population, are set to benefit from this move and if we include our inland waterways programme, at least 55 per cent of all population will be impacted,” said Gadkari.
He said two ports — Kandla and Paradip — were being developed into Green Smart Cities and the Government is eyeing at Rs4,500 profit from ports this fiscal.
“Ports play a pivotal role in boosting the country’s economic growth. Increased coastal activity will lead to reduction in transportation costs, which will lead to major savings. This project will also create huge employment opportunities,” he said.
“At Navi Mumbai Special Economic Zone, there are investment proposals for Rs4,000 crore, which will provide employment to 1.5 lakh youth,” he pointed out.
In March, the Cabinet had given ‘in-principle’ nod to the project, aimed at port-led development in coastal States.