We are moving towards a future where the Blue Economy will be the medium, to create a Green Planet, said Prime Minister Narendra Modi said on Tuesday

In Global Maritime India Summit 2023 , Prime Minister Narendra Modi said India’s strategic vision for the maritime sector, emphasising the country’s journey towards a greener planet through the concept of the “Blue Economy.” During his speech, the Prime Minister underscored the government’s commitment to boosting the ship-building and repair sector, exemplified by the indigenous aircraft carrier INS Vikrant.

Prime Minister Modi expressed India’s ambition to rank among the top five ship-building nations globally in the coming decade, championing the “Make in India – Make for the world” mantra. He highlighted the establishment of maritime clusters to unite stakeholders, creating ship-building and repair centers across various locations. Notably, India currently holds the second position in ship recycling, with plans to make major ports carbon-neutral through a net-zero strategy. Furthermore, the Prime Minister celebrated the emergence of GIFT City in Ahmedabad, offering ship leasing as a financial service with attractive discounts. He urged ship leasing companies to join GIFT IFSC, emphasizing India’s welcoming approach to international players in the maritime sector. Prime Minister Modi also emphasised India’s vast coastline, strong riverine eco-system, and rich maritime heritage, which offer great potential for maritime tourism. He mentioned the preservation of the historic Lothal Dockyard, now part of a National Maritime Heritage Complex near Mumbai, showcasing India’s maritime legacy.

The Prime Minister revealed plans for the world’s longest river cruise service, along with upcoming international cruise terminals in Mumbai, Visakhapatnam, and Chennai, positioning India as a global cruise hub. In his concluding remarks, Prime Minister Modi extended an open invitation to global investors to participate in India’s growth story, highlighting the nation’s unique combination of Development, Demography, Democracy, and Demand. Union Minister for Ports, Shipping, and Waterways,  Sarbananda Sonowal, also graced the occasion. During the event, the Prime Minister unveiled the “Amrit Kaal Vision 2047,” a comprehensive blueprint for India’s maritime blue economy. This visionary plan aims to enhance port facilities, promote sustainable practices, and foster international collaboration. To kickstart this ambitious vision, Prime Minister Modi inaugurated and laid the foundation stone for projects valued at over Rs 23,000 crores, aligned with the ‘Amrit Kaal Vision 2047.’ Notably, he laid the foundation stone for the Tuna Tekra all-weather deep draft terminal, a state-of-the-art greenfield terminal at Deendayal Port Authority in Gujarat, expected to become a pivotal international trade hub. This terminal will handle next-gen vessels and facilitate trade through the India-Middle East-Europe Economic Corridor (IMEEC). The Prime Minister also dedicated more than 300 Memorandums of Understanding (MoUs) worth over 7 lakh crore, further promoting global and national partnerships within the maritime sector.