Modi Seeks .₹ 1L-cr In­vest­ment in Ports

The Economic Times - - Economy -

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

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