Kutch: The Prime Minister, Shri Narendra Modi inaugurated the third edition of Global Maritime India Summit 2023 in Mumbai via video conferencing today. The Prime Minister also unveiled ‘Amrit Kaal Vision 2047’, a blueprint for the Indian maritime blue economy. In line with this futuristic plan, the Prime Minister inaugurated, dedicated to the nation and laid the foundation stone for projects worth more than Rs 23,000 crores that are aligned with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy. The summit provides an excellent platform for attracting investment in the country’s maritime sector.

Prime Minister laid the foundation stone for the ambitious project, “Development of Container Terminal on BOT Basis under PPP Mode” situated at Tuna-Tekra at Deendayal Port on Tuesday, 17th October marking a milestone for the Deendayal Port Authority and DP World. The new 2.19 million TEU per annum mega-container terminal on India’s western coast is expected to cater to trade demand from Northern, Western and Central India, connecting these regions to global markets.

The project is being developed through a Public Private Partnership (PPP) between the Deendayal Port Authority and Hindustan Infralog Private Limited (a joint venture between DP World and National Investment and Infrastructure Fund, India’s collaborative investment platform anchored by the Government of India) and is part of the National Infrastructure Pipeline and will complement initiatives of the Government of India, such as the PM Gati Shakti Master Plan and National Logistics Policy.

DP World currently operates five container terminals in India – two in Nhava Sheva, one each in Mundra, Cochin and Chennai – with a combined capacity of approximately 6 million TEUs. The new greenfield terminal at Tuna-Tekra, with an annual capacity of 2.19 million TEUs, will increase DP World’s combined capacity to 8.19 million TEUs. Once complete in 2027, the 2.19 million TEU per year terminal will have state of the art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs. As part of this concession agreement the berth can be further extended to 1,375 m.

Addressing the gathering, the Prime Minister welcomed everyone to the 3rd edition of the Global Maritime India Summit 2023. He recalled how the entire world was marred by the uncertainties of the Covid pandemic when the Summit took place in 2021, and emphasized that a new world order is taking shape today. In the changing world order, the Prime Minister underlined that the world is looking towards India with new aspirations. He stated that India’s economy is constantly strengthening in a world dealing with economic crisis, and the day is not far when India will become one of the top 3 economies in the world. Underscoring the role of sea routes in global trade, the Prime Minister emphasized the need for a reliable global supply chain in the post-Corona world.

The Prime Minister said that history bears testimony that India’s maritime capabilities have always benefited the world. The Prime Minister listed the systematic steps undertaken to strengthen the sector in the last few years. He underlined the transformative impact of the historic G20 consensus on the  proposed India-Middle East Europe Economic Corridor. He said that as the Silk Route of the past changed the economy of many countries, this corridor too will transform the picture of global trade.  He said that Next Generation Mega Port, International Container Trans-shipment port, island development, inland waterways, and multi-modal hub will be undertaken under this leading to a reduction in business cost and environmental degradation will improve logistical efficiency and create jobs. The Prime Minister reiterated that investors have a great opportunity to become part of this campaign and join India.

Prime Minister Modi reiterated that the India of today is working to fulfill the resolve of becoming a developed nation in the next 25 years. He underlined that the government is bringing about revolutionary changes in every sector and mentioned the work done to strengthen the maritime sector of India. In the last decade, the Prime Minister informed that the capacity of major ports in India has doubled, and turnaround time for big vessels has come down to less than 24 hours as compared to 42 hours in 2014. He also mentioned the construction of new roads to increase port connectivity and touched upon the SagarMala Project to strengthen the coastal infrastructure. These efforts, the Prime Minister said, are increasing employment opportunities and Ease of Living manifold.

Watch | Work is being done at a rapid pace in India to ensure that the world’s biggest maritime operators come to India and operate from India. Gujarat’s modern GIFT City has launched ship leasing as a major financial service. Many types of discounts are also being given to ship… pic.twitter.com/yQgk7UkLaz

— DeshGujarat (@DeshGujarat) October 17, 2023

“Government’s vision of ‘Ports for Prosperity and Ports for Progress’ is bringing transformational changes at the ground level”, the Prime Minister said as he noted that the mantra of ‘Ports for Productivity’ is also being encouraged. Shri Modi informed that the government is taking major steps to enhance economic productivity by making the logistics sector more efficient and effective. He underlined that Coastal Shipping Modes are also being modernized in India and informed that the coastal cargo traffic has doubled in the last decade, thereby providing a cost-effective logistic option for the people. Regarding the development of inland waterways in India, the Prime Minister informed that cargo handling of national waterways grew by four times. He also mentioned India’s improvement in the Logistics Performance Index in the last 9 years.

The Prime Minister talked about the government’s focus on the ship-building and repair sector. He said that indigenous aircraft Carrier INS Vikrant is proof of India’s capacity. “India is going to become one of the top five ship-building nations in the coming decade. Our Mantra is ‘Make in India – Make for the world’”, the Prime Minister said. He informed that the government is working to bring together all stakeholders in the sector through maritime clusters. Ship-building and repair centers will be developed in many places. He mentioned that India is already at second place in the field of ship recycling. He also informed about the effort to make the major ports in India carbon-neutral via a net-zero strategy for the sector. “We are moving towards a future where the Blue Economy will be the medium to create a Green Planet”.

The Prime Minister underlined that work is underway in India for the big players in the maritime sector to enter the country and mentioned GIFT City in Ahmedabad which has launched ship leasing as a financial service while offering discounts at the same time. Shri Modi expressed delight that 4 global ship leasing companies of the world have also registered with GIFT IFSC. He also called upon other ship leasing companies present at this summit to join GIFT IFSC.

Watch | India has a vast coastline, a strong riverine eco-system, and a rich cultural heritage. Together, these create a new possibility for maritime tourism. Lothal Dockyard, about 5 thousand years old and present in India, is a world heritage site. In a way, Lothal is the… pic.twitter.com/8vgIWFzPZj

— DeshGujarat (@DeshGujarat) October 17, 2023

“India has a vast coastline, strong riverine eco-system and rich cultural heritage which create new possibilities for Maritime Tourism ”, the Prime Minister remarked. He mentioned the nearly 5 thousand-year-old Lothal Dockyard in India which is a world heritage and called it the ‘Cradle of Shipping’. He informed that a National Maritime Heritage Complex is also being built in Lothal near Mumbai to preserve this world heritage and urged the citizens to visit upon completion.

The Prime Minister mentioned the world’s  longest river cruise service to promote maritime tourism in India. He informed about the upcoming International Cruise terminal in Mumbai and modern cruise terminals in Visakhapatnam and Chennai. “India is moving towards becoming a global cruise hub through its state-of-the-art infrastructure”, he added.

Concluding the address, the Prime Minister remarked that India is one of the few countries which has such a combination of Development, Demography, Democracy and Demand. “At a time when India is moving towards the goal of becoming a developed India by 2047, this is a golden opportunity for you”, Shri Modi said and sent out an open invite to investors from all over the world to come to India and join the path of development.

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal was present on the occasion.