Kolkata, August 15, 2023
Introduction
Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, had announced that the state of Bengal is poised to become a maritime hub. As it has an infusion of Rs 1 trillion in investment into the maritime sector. This significant development was revealed during a roadshow organized by Syama Prasad Mookerjee Port in preparation for the upcoming Global Maritime India Summit.
Minister Sonowal emphasized the critical role that Kolkata, with its historical maritime significance and strategic geographical location. It plays in enabling and empowering the eastern part of India in the maritime domain. He referred to the maritime sector as the “lifeline of the Indian economy,” contributing over 90 per cent of EXIM cargo by volume and around 70 per cent by value.
Roadshow witnesses Key figures
The roadshow witnessed the participation of key figures from India Inc, technocrats, social leaders, and officials, all coming together to “Connect, Collaborate, and Create” with global investors in anticipation of the third Global Maritime India Summit. Scheduled from October 17 to 19 at Delhi’s Bharat Mandapam, the summit aims to foster knowledge sharing, innovation, and collaboration on a global scale.
The Minister also highlighted the indispensable role of the private sector in driving the growth of India’s maritime industry. He pointed out that Public Private Partnerships (PPP) have been instrumental in the development of new ports and expanding the capacity of existing ones.
Presently, PPP terminals handle about 50 per cent of cargo at major ports. The Minister expressed the ambition to raise this figure to 100 per cent in the coming decades.
Subrat Tripathi, CEO of Ports at Adani Ports & SEZ Limited, noted that summits like this create an environment conducive to sharing ideas and inviting innovative solutions.
Ashutosh Jaiswal, Director of Century Ports Limited. All this highlighted that the roadshow acts as a platform for industrial leaders, policymakers, and stakeholders from around the world to share knowledge and explore collaborative opportunities.
This massive investment in Bengal set to transform it into a maritime hub. India’s maritime sector is set for substantial growth, which will lead to both economic advancement and strategic significance on the global stage.
Conclusion
For more updates on the maritime sector and the upcoming Global Maritime India Summit, stay tuned to reliable sources.
