Modi Seeks .₹ 1L-cr Investment in Ports
Our Political Bureau
Mumbai: Prime Minister Narendra Modi sought an investment of Rs 1 lakh crore in India’s port sector, calling it an “engine of growth that would generate ten million jobs over the next 10 years”.
Modi was speaking during the inauguration of the Maritime India summit in Goregaon in Mumbai where he showcased the 7,500-km Indian coastline as a ‘tremendous potential for development’.
Releasing the National Perspective Plan of the Sagarmala programme, Modi said that his government wanted to increase the port capacity from the current 1,400 million tonnes to 3,000 million tonnes by 2025. Talking about investments in the maritime sector, he said, “The ministry of shipping is showcasing about 250 projects with investment opportunity… These projects include various infrastructure development opportunities in 12 major ports. We want to modernize our ports and integrate them with special economic zones, port-based smart cities, industrial parks, warehouses, logistics parks and transport corridors.” He said that of these, 100 projects have been identified under the Sagarmala initiative.
The PM said that five new ports are also being planned to meet ‘increasing demand’. Highlighting the importance of coasts and ports, Modi said that with rising domestic production of coal, most of the coal would be shipped through the coasts. “Coastal transportation of coal is expected to increase four fold by 2025, he said. Stressing the importance of development of ports for generating employment, Modi said 18% of India’s population lived in 72 coastal districts. “We will adopt a comprehensive approach with focus on capacity building and training, upgrading of PHOTO: PTI
technology and for improving physical and social infrastructure. This will be done in collaboration with the coastal states,” he said.
These initiatives, according to the PM, would create employment for four million direct and six million indirect jobs over the next 10 years.
PM Narendra Modi and Minister for Road Transport & Highways and Shipping Nitin Gadkari at the Maritime India Summit in Mumbai on Thursday