Maritime India Vision sets eyes on Rs 20 lakh crore
ECONOMY & POLICY

Maritime India Vision sets eyes on Rs 20 lakh crore

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.

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.

Related Stories

Gold Stories

Next Story
Equipment

BEML Wins GeM Award for Highest MSE Order Value

BEML Limited has received the “Maximum Order Value to MSEs” award at the 10th Foundation Day celebrations of the Government e-Marketplace (GeM) held at Bharat Mandapam, New Delhi.Union Minister of Commerce and Industry Piyush Goyal presented the award, which was received on behalf of BEML by Anil Jerath, Director (Finance).The recognition acknowledges BEML's efforts to strengthen procurement from Micro and Small Enterprises (MSEs) through the GeM platform.BEML said its procurement initiatives are aimed at encouraging greater participation of MSEs in public procurement and supporting the gr..

Next Story
Equipment

BKT to Showcase Advanced Off-Highway Tyres at Bauma ConExpo

Balkrishna Industries Ltd (BKT) will showcase its latest off-highway tyre solutions at Bauma ConExpo India 2026, scheduled from September 15-18 at the India Expo Centre, Greater Noida.The company will display a range of application-specific tyres for construction, mining and industrial operations at Hall 12, Booth No. 1. Key products will include the EARTHMAX SR 30 for loaders and articulated dump trucks and the AIROMAX AM 27 for mobile cranes.BKT will also showcase MINE FORCE, EARTHMAX EXPERTO GD1, XL GRIP NEO, DYNA HAUL, CONSTEER and EARTHMAX SR423. The tyres are designed to operate under he..

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement