Maritime India Vision sets eyes on Rs 20 lakh crore

19 Oct 2023 CW Team

India is gearing up for a colossal investment of approximately Rs 75-80 lakh crore to fuel the aspirations outlined in Vision 2047, a strategic roadmap for the nation's maritime sector. This substantial funding will play a pivotal role in boosting port handling capacity fourfold, establishing maritime clusters in proximity to Indian ports, and transforming three islands into hubs for bunkering, ship repair, and Vessel Spares and Stores, among other critical initiatives. Official estimates suggest that a substantial Rs 15-20 lakh crore of this investment will be directed towards expanding the country's port handling capacity by the year 2047.

Prime Minister Narendra Modi, while addressing the esteemed gathering at the Global Maritime India Summit 2023, expressed his vision, stating, "The day is not far when India will be one of the top 3 economic powers of the world. In the Post-Corona world, the world needs reliable and resilient supply chains."

A presentation delivered by the Ministry of Ports, Shipping, and Waterways during the summit underscored the necessity of Rs 20 lakh crore in investments to achieve the ambitious objectives laid out in the Amrit Kaal Vision 2047 document, aimed at the flourishing development of India's maritime sector. This massive financial commitment underscores India's determination to emerge as a global maritime force in the coming years.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..