India announced Rs. 23000 crore maritime projects for blue economy

India announced Rs. 23000 crore maritime projects for blue economy

Prime Minister Narendra Modi has launched maritime projects worth Rs 23,000 crore and unveiled the long-term vision document for the blue economy.

The long-term blueprint document has been outlined strategic initiatives with an aim for enhancing port facilities, promoting sustainable practices, and facilitating international collaboration.

Inauguration of Global Maritime India summit:

Prime Minister Narendra Modi inaugurated 3rd Global Maritime India Summit 2023 in Mumbai via video conferencing.

During the third edition of the Global Maritime India Summit, he dedicated to the nation and laid the foundation stone of projects worth more than Rs 23,000 crore.

He also unveiled the long-term vision document for the blue economy with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy.

In the summit many key issues of the maritime sector such as ports of the future, decarburization, coastal shipping and inland water transportation, shipbuilding, repair and recycling, finance, maritime clusters and maritime tourism.

All weather deep draft terminal:

The foundation stone of Tuna-Tekra all-weather deep-draft terminal has been laid by the Prime Minister. It will be built at a cost of more than Rs 4,500 crore at Deendayal Port Authority in Gujarat.

This Greenfield terminal will be developed in public-private partnership (PPP) mode. The terminal is designed to handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs).

This terminal will emerge as an international trade hub and will act as a gateway for Indian trade via the India-Middle East-Europe Economic Corridor (IMEEC).

Partnership in maritime sector:

The Prime Minister has dedicated more than 300 Memorandums of Understanding (MoUs) worth more than Rs 7.16 lakh crore for global and national partnerships in the maritime sector.

The summit will see participation of ministers from across the globe representing countries from Europe, Africa, South America, and Asia (including central Asia, Middle East and BIMSTEC region).

Question & Answer:

Q1. Where the third edition of Global Maritime India Summit is being held?

Ans. Mumbai, Maharashtra

Q2. Who has inaugurated 3rd Global Maritime India summit via video conferencing?

Ans. PM Narendra Modi

Q3. How much worth of projects has been unveiled at the Global Maritime India summit?

Ans. Rs. 23000 crore

 

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