Maritime India Summit to be held virtually

Maritime India Summit to be held virtually

The Union Ministry of Ports, Shipping and Waterways announced that it is organising Maritime India Summit 2021 (MIS 2021) virtually from 2 March to 4 March 2021, with the aim of promoting both international and domestic investment in the ports and maritime sector. Prime Minister Narendra Modi will inaugurate the summit on 2 March 2021 at 11 am over video conference.

The opening session of the summit will include ministerial level participation from Afghanistan, Russia, Uzbekistan, Iran, and Armenia, and will feature discussions on development of port infrastructure and boosting business through trade, promotion, and regional connectivity.

Plenary, special and various thematic and breakout sessions are planned, featuring international experts. There will be sessions which are planned to focus on each coastal state. Eight states and Union Territories—Maharashtra, Gujarat, Odisha, Andhra Pradesh, Karnataka, Tamil Nadu, Andaman & Nicobar and Lakshadweep━have already committed to partnering with the Summit this year. Around 696,000 participants have already registered for the virtual summit, Rajiv Jalota, Chairman, Mumbai Port Trust, announced. He said the objective of the summit is to “propel India to the forefront of the global maritime sector”.

Signing of MoUs with various entities has already started, Jalota pointed out: Mumbai Port Trust has signed MoUs worth Rs 7,400 crore so far.

It is expected that Rs 20,000 crore worth MoUs will be signed as part of this summit. Cochin Port Trust (CoPT), one of the major port trusts in India, will sign 9 MoUs of Rs 2,825 crore (as of today) at the summit, according to a statement from the Ministry. The MoUs are between Fertilisers and Chemicals Travancore Limited (FACT), Kottayam Port & ICD Services, IOCL, IGTPL, among others.

Some other highlights of the event are:

Speakers from 20 countries are expected to attend the summit and explore the potential business opportunities in Indian maritime sector.

The summit will host forums for interaction and collaboration with the Indian and international ports, shipping and maritime companies, investors, and other stakeholders. The summit will also include an exclusive CEOs’ forum with the Minister of State (in-charge) of Ports, Shipping and Waterways, Mansukh Mandaviya.

The MIS 2021 will celebrate Chabahar Day on 4 March. Chabahar is Iran's closest and best access point to the Indian Ocean. The Federation of Indian Chambers of Commerce and Industry has been engaged as industry partner and Ernst & Young has been engaged as knowledge partner of the summit.

A session showcasing, ‘Investment Opportunities in Maharashtra’ is planned for the opening day, 2 March.

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