PM Modi says India will invest 82 billion dollars in port projects by 2035

Prime Minister Narendra Modi has said that India will invest 82 billion dollars in port projects by 2035. Prime Minister has emphasized on creating world class maritime infrastructure through various reforms to achieve the vision of Atmanirbhar Bharat.

PM Modi was speaking after inaugurating Maritime India Summit-2021 through video conferencing yesterday, He said India is very serious about growing in the maritime sector and emerging as a leading Blue Economy of the world.

Prime Minister 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 www.maritimeindiasummit.in.

PM Modi said, through the focus areas of upgradation of infrastructure, boosting reform journey, India aims to strengthen the vision of Atamnirbhar Bharat. The Prime Minister informed that 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

The Prime Minister asserted that his Government 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. PM Modi said, government aims to operationalise 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 best practices with the world and also the openness to learning from global best practices. He said, 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.