Bengal’s Maritime sector attracts Rs.1 trillion investment boost

Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, revealed a substantial investment of Rs.1 trillion that is poised to reshape Bengal into a maritime powerhouse. This declaration was made during a roadshow orchestrated by Syama Prasad Mookerjee Port to preview the upcoming Global Maritime India Summit. Minister Sonowal emphasised Kolkata’s pivotal role in the maritime landscape, with its historical significance and strategic location propelling the eastern region’s development.

The maritime sector is a vital backbone of India’s economy, contributing over 90 percent of the volume and about 70 percent of the value of EXIM cargo. The roadshow, attended by industry leaders, technocrats, and officials, aimed to foster connections and collaborations ahead of the third Global Maritime India Summit scheduled from October 17 to 19 in Delhi.

Acknowledging the private sector’s significance, the minister recognised its role in propelling India’s maritime progress. Public-Private Partnerships (PPPs) have been instrumental in expanding port capacity, with PPP terminals currently handling around 50 percent of cargo at major ports, aiming for full dominance in the years ahead. The roadshow served as a global platform for exchanging ideas and spurring innovations, fostering an environment of international cooperation and growth in the maritime realm.

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