Maritime India Summit 2021- India Will Invest Rs 6 lakh crore In Port Projects by 2035, says PM

India will invest Rs 6 lakh crore in port Projects by 2035, says PM Modi at Maritime India Summit 2021. Invites investors to be a part of the growth trajectory of the world’s leading blue economy.

Maritime India Summit 2021

Prime Minister Narendra Modi inaugurated the second edition of ‘Maritime India Summit 2021’ on Tuesday. Also, he launched an e-book of maritime vision 2030. According to PMO’s office, the Ministry of Ports, Shipping and Waterways organized the summit on an online platform: from March 2 to March 4. It observed over 50 global CEOs and more than 160 speakers, including 115 international speakers from 24 nations. The summit visualized a roadmap for India’s maritime sector for the next decade.

Government To Operate 23 Waterways By 2030 

“Invest in our ports, Invest in our people”, said Modi while urging investors to invest in Indian ports and waterways. Mentioning identified 574 projects worth Rs6 lakh crore under the Sagarmala project, he encouraged the private sector to invest in the Indian maritime industry. Further, highlighting the government’s focus areas, he said that domestic waterways are cost-effective and environment friendly ways of transporting. Hence, the government is planning to operate 23 water channels by 2030. Moreover, the government is looking forward to augmenting regional connectivity to Bangladesh, Bhutan and Myanmar through waterways.

Increase Share Of Clean Renewable Energy Source In Maritime

Asserting the government’s efforts to increase the share of renewable energy in the maritime sector, the PM said they would install solar and wind-based power systems in major ports across the country. For this, the government is working to increase renewable energy usage to more than 60 per cent of all energy by 2030. Besides, the government is also enhancing the development of maritime tourism landmark lighthouses.

To conclude, the Prime Minister highlighted India’s rich maritime history and urged investors to invest in its naval economy. 

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