Prime Minister Narendra Modi inaugurated the third Global Maritime India Summit 2023, emphasising India’s growing economic strength amid global challenges. He anticipates India becoming one of the world’s top three economies soon and discussed the transformative India-Middle East-Europe Economic Corridor. This corridor, initiated during the G20 summit, will reduce logistic costs, support environmental conservation, and generate employment opportunities.
PM Modi also emphasised India’s potential to become a top-five ship-building nation globally, echoing the ‘Make in India, Make for the World’ mantra. He highlighted the development of maritime clusters and the significance of INS Vikrant, India’s indigenous aircraft carrier.
Furthermore, PM Modi noted the strengthening of the maritime ecosystem, doubled capacity at major ports, improved container vessel turnaround times, enhanced port connectivity, and the Sagarmala project’s coastal infrastructure development. He mentioned India’s improved Global Logistics Performance Index rating over the past nine years and unveiled the ‘Amrit Kaal Vision 2047,’ a blueprint for the Indian maritime blue economy. Projects worth over Rs 23,000 crores aligned with this vision were inaugurated to boost the maritime sector. The summit aims to attract investments in the maritime industry and is organised by the Ministry of Ports, Shipping, and Waterways. Prominent leaders attended the event, which will continue until October 19.
