PM Modi inaugurates Maritime India Summit 2021, says USD 82 billion being invested in ports

New Delhi, Mar 02: Prime Minister Narendra Modi on Tuesday inaugurated the 'Maritime India Summit 2021' through video conferencing. He also released the e-book 'Maritime India Vision 2030', during the video conference. India will invest USD 82 billion in port projects by 2035, raise share of clean renewable energy source in maritime sector, develop waterways and boost tourism around lighthouses as part of port-led development, Prime Minister Narendra Modi said.

Speaking at the Maritime India Summit, he invited global investors to invest in Indian ports, shipyards and waterways.

PM Narendra Modi said that the government's focus is on upgrading current infrastructure, creating next generation infrastructure, boosting reform journey.

Speaking about the private investment, he said that we can boost private investment in port sector by encouraging investment.

He said,''Our govt is investing in waterways in a way that was never seen before. Domestic waterways are found to be cost effective and environment friendly way for transporting freight. We aim to operationalize 23 waterways by 2030.''

''India has as many as 189 lighthouses across its vast coastline. We have drawn up a program for developing tourism in the land adjacent to 78 lighthouses,' PM Modi further said.

The Summit brings together many stakeholders relating to this sector. I am sure we will achieve great success in boosting the maritime economy. India is a natural leader in this sector. Our nation has a rich maritime history, said prime minister.

''Through this Summit, I want to invite the world to come to India and be a part of our growth trajectory. India is very sincere about growing in the maritime sector and emerging as leading blue economy of the world,'' PM Modi said during Maritime India Summit 2021.

He also informed that the government is focusing on domestic ship building and ship repair market. It will provide financial assistance for shipyards.

The Maritime India Summit 2021 is being organised by the Ministry of Ports, Shipping and Waterways on a virtual platform from March 2-4.

The summit will visualise a roadmap for India's maritime sector for the next decade and will work to propel India to the forefront of the global maritime sector, the statement said.

Eminent speakers from several countries are expected to attend the summit and explore the potential business opportunities and investments in Indian Maritime domain, it said.

Denmark is the partner country for the three-day summit.