Prime Minister Narendra Modi addresses the inauguration of Maritime India Summit 2021, through video conferencing in New Delhi on Tuesday. (PTI PHOTO).
Prime Minister Narendra Modi addresses the inauguration of Maritime India Summit 2021, through video conferencing in New Delhi on Tuesday. (PTI PHOTO).

India to invest $82 billion in port projects by 2035: PM Modi

  • The capacity of major ports which was around 870 million tonnes per annum in 2014 has increased to around 1550 million tonnes per annum now, the Prime Minister said.
UPDATED ON MAR 02, 2021 09:12 PM IST

Prime Minister Narendra Modi on Tuesday said India has identified more than 574 port projects at a cost of 82 billion USD or 6 lakh crore for implementation during 2015 to 2035.

The Prime Minister on Tuesday inaugurated the second edition of the ‘Maritime India Summit 2021’ through video conferencing. Minister of Transport of Denmark Benny Englebrecht, Chief Ministers of Gujarat and Andhra Pradesh, Union Ministers Dharmendra Pradhan and Mansukh Mandaviya were also present on the occasion.

Speaking at the virtual inauguration, the PM said he is inviting the world to come to India and be a part of India’s growth trajectory. “India is very serious about growing in the maritime sector and emerging as a leading Blue Economy of the world. Through the focus areas of upgradation of infrastructure, boosting reform journey, India aims to strengthen the vision of Atmanirbhar Bharat,” he said.

“The Ministry of Port Shipping and Waterways has created a list of 400 investable projects. These projects have an investment potential of 31 billion dollars or 2.25 lakh crore. This will further strengthen our commitment to the overall development of our maritime sector,” he said.

“The Maritime India Vision 2030 has been launched. It outlines the priorities of the Government. The Sagar-Manthan: Mercantile Marine Domain Awareness Centre has also been launched today. It is an information system for enhancing maritime safety, search and rescue capabilities, security and marine environment protection. The Sagarmala project for promoting port-led development was announced by the government in 2016. As part of the programme, more than 574 projects at a cost of 82 billion USD or 6 lakh crore have been identified for implementation during 2015 to 2035,” he added.

The capacity of major ports which was around 870 million tonnes per annum in 2014 has increased to around 1550 million tonnes per annum now, he said.

The PM asserted that: “Ours is a government that is investing in waterways in a way that was never seen before. Domestic waterways are found to be cost effective and environment friendly ways of transporting freight. We aim to operationalise 23 waterways by 2030.”

He also said ports have reduced waiting time for inbound and outbound cargo. “Indian ports now have measures such as: Direct port Delivery, Direct Port Entry and an upgraded Port Community System for easy data flow. We are also investing heavily in development of storage facilities at the ports and plug-and-play infrastructure for attracting industries to Portland. The ports will promote ‘Waste-to-Wealth' through sustainable dredging and domestic ship recycling. We will encourage private investment in the ports sector,” he added.

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