PM Modi unveils long term blueprint for India’s maritime economy

Prime Minister Narendra Modi recently initiated a series of maritime initiatives, including a long-term vision for India's maritime blue economy in line with the ‘Amrit Kaal Vision 2047’. The strategic initiatives aim to improve port facilities, promote sustainable practices, and encourage international collaborations. Key issues such as future ports, decarbonization, coastal shipping and inland water transportation, shipbuilding and repair, finance and maritime tourism are to be discussed at the third Global Maritime India Summit. Projects worth more than Rs. 23,000 crore have been inaugurated, with a foundation stone for the Tuna-Tekra all-weather deep-draft terminal also being laid. The Prime Minister also dedicated over 300 MoUs for global and national partnerships in the maritime sector, valued at more than Rs. 7.16 lakh crore. The summit is expected to witness participation from ministers of many countries, global CEOs, investors, officials, and other stakeholders.

IMPORTANT POINTS TO REMEMBER

  1. PM Modi unveiled a long-term vision for India's maritime blue economy.
  2. 'Amrit Kaal Vision 2047' is the policy underlying these maneuvers.
  3. Focus areas include enhancing port facilities, implementing sustainable practices, and promoting international partnerships.
  4. The third Global Maritime India Summit witnessed the inauguration of projects worth Rs. 23,000 crore and laying of foundation for the Tuna-Tekra all-weather deep-draft terminal.
  5. More than 300 MoUs were dedicated for partnerships in the maritime sector.