India to invest US$ 82 bn in port projects by 2035 |
Indian Prime Minister Narendra Modi has said that India will invest 82 billion Dollars in port projects by 2035. He emphasized creating world-class maritime infrastructure through various reforms to achieve his vision of Atma Nirbhar Bharat. Modi was speaking after inaugurating Maritime India Summit-2021 through video conferencing on 2nd March. He said India is very serious about growing in the maritime sector and emerging as a leading Blue Economy of the world. Modi invited the global investors to come to India and be a part of India`s growth trajectory. The three-day Maritime India Summit-2021 is being organized by the Ministry of Ports, Shipping, and Waterways on a virtual platform. PM Modi informed that the capacity of major ports has increased from 870 million tonnes in 2014 to 1,550 million tonnes now. Mega ports with world-class infrastructure are being developed in Vadhavan, Paradip, and Deendayal Port in Kandla. Modi asserted that his Government is investing in waterways like never before. Domestic waterways are found to be cost-effective and environment-friendly ways of transporting freight. Modi added the government aims to operationalize 23 waterways by 2030. He announced that steps are also being taken to introduce urban water transport systems in key states and cities such as Kochi, Mumbai, Gujarat, and Goa. Prime Minister Modi expressed the desire to share the world`s best practices. Continuing with India`s focus on trade and economic linkages with the BIMSTEC and IOR nations, India plans to enhance investment in infrastructure and facilitate mutual agreements by 2026.
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