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Date: 21/11/2024

Govt to invest Rs 80 lakh cr. to revolutionise maritime sector

The government is looking to revolutionise the maritime sector by 2047 with an investment of Rs 80 lakh crore to be used to enhance port capacity, shipping, shipbuilding and inland waterways, said Mr Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, while speaking at the ‘Sagarmanthan - The Great Oceans Dialogue’ here. He highlighted that key projects of the government include Vizhinjam International Seaport in Kerala, new mega ports at Vadhvan in Maharashtra and Galathea Bay in Nicobar. 
 
By 2047, the target is a port handling capacity of 10,000 million metric tons per annum, leveraging strategic trade routes through initiatives like the India-Middle East-Europe Economic Corridor and the International North-South Transport Corridor. He further emphasised the focus on shipbuilding while advancing clean-fuel shipbuilding to meet future sustainability goals, said a report.
 
Source: Exim News Service: New Delhi, Nov. 20



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