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Narendra Modi confirms plan to invest $82 billion in ports

The Prime Minister urged global investors to put their money into Indian ports and make the nation their trade destination.

He further added that India will invest $82 billion in port projects by 2035 while addressing the Maritime India Summit on Tuesday.

The aim is to raise share of clean renewable energy source in maritime sector besides developing waterways.

Moreover, this will foster tourism around lighthouses as part of port-led development.

Further, global investors must invest in Indian ports, shipyards and waterways respectively.

Summit will visualise a roadmap for India’s Maritime sector for next decade according to Modi.

This will work to propel India to the forefront of the Global Maritime Sector.

Over one lakh participants from 50 countries have registered online for MIS summit 2021 as per reports.

The Ministry of Ports, Shipping and Waterways will organise it virtually from March 2 to March 4.

It has recognized more than 574 projects worth $82 billion or Rs 6 lakh-crore for implementation between 2015 and 2035.

This is under the Sagarmala Project setting a target to operationalise 23 waterways by 2030.

Also, there are plans of developing tourism on land adjacent to 78 out of 189 lighthouses along Indian coastline.

Meanwhile, Indian ports have reduced waiting time for both inbound and outbound cargo

Installation of solar and wind based power systems in all the major ports across the country are in cards too.

The ultimate goal is to expand usage of renewable energy to over 60 per cent of all energy by 2030.

This will take place in three phases across Indian ports.

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