PM Modi launches maritime projects worth Rs 23,000 Cr; unveils long-term blueprint for blue economy

Prime Minister Narendra Modi on Tuesday launched maritime projects worth Rs 23,000 crore and unveiled the long-term vision document for the blue economy.

The blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration, an official statement said.

He also inaugurated and laid the foundation stone of projects worth more than Rs 23,000 crore that are aligned with the 'Amrit Kaal Vision 2047' for the Indian maritime blue economy, during the third edition of the Global Maritime India Summit.

The summit will discuss and deliberate key issues of the maritime sector, including ports of the future, decarbonisation, coastal shipping and inland water transportation, shipbuilding, repair and recycling, finance, maritime clusters, and maritime tourism, among others.

The Prime Minister laid the foundation stone of the Tuna-Tekra all-weather deep-draft terminal to be built at a cost of over Rs 4,500 crore at Deendayal Port Authority in Gujarat.

This greenfield terminal will be developed in public private partnership (PPP) mode. The terminal, which is likely to emerge as an international trade hub, will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs) and will act as a gateway for Indian trade via the India-Middle East-Europe Economic Corridor (IMEEC).

The Prime Minister also dedicated more than 300 Memorandums of Understanding (MoUs) worth more than Rs 7.16 lakh crore for global and national partnerships in the maritime sector.

The summit will see the participation of ministers from across the globe representing countries from Europe, Africa, South America, and Asia (including central Asia, the Middle East, and the BIMSTEC region).

The mega maritime event will be attended by global CEOs, business leaders, investors, officials, and other stakeholders globally. Moreover, several states will also be represented at the summit by the ministers and other dignitaries.