Sarbananda Sonowal, The Union Minister of Ports, Shipping & Waterways, and Ayush inaugurated the curtain raiser event of the Global Maritime India Summit (GIMS) 2023 in Mumbai. The summit aims to unleash the untapped potential of India’s maritime sector by promoting investments, fostering collaborations, and leveraging technology and knowledge exchange. The event was attended by prominent industry leaders and government officials, including Shri Shripad Naik, Union Minister of State for Ports, Shipping & Waterways and Tourism.
Recognizing the Importance of the Maritime Sector
During the curtain raiser event, Sarbananda Sonowal emphasized the vital role played by the maritime sector in India’s economic development. He acknowledged that India’s maritime industry has the potential to lead the way in the Asia-Pacific region and contribute to the country’s growth and self-reliance. The Minister attributed this potential to proactive government policies related to ports, shipping, and inland waterways, which have created an enabling environment for the sector to thrive.
Unleashing the Potential of India’s Maritime Sector
Shri Sarbananda Sonowal highlighted the enormous potential of India’s marine sector to drive the country’s economic cycle towards an Atmanirbhar Bharat (self-reliant India) by 2047, as envisioned by Prime Minister Narendra Modi. The Minister emphasized that the Global Maritime India Summit plays a significant role in creating value from this potential, with investment opportunities worth over ₹10 lakh crores identified in the maritime sector. These opportunities have the potential to generate employment for more than 15 lacks Indian youths.
The summit aims to explore and harness the riches of India’s Blue Economy, focusing on key areas such as Ports of the Future, Coastal Shipping & Inland Waterways, Shipbuilding, Finance, Insurance & Arbitration, Repair & Recycling, Innovation & Technology, Maritime Safety & Security, Transportation, and Maritime Tourism. By gathering thought leaders, industry captains, start-ups, researchers, and innovators, the summit seeks to create a global forum to showcase technology, expertise, and investment opportunities in India’s maritime sector.
Strengthening Regional Trade and Connectivity
Shri Sarbananda Sonowal highlighted India’s active role in advancing regional trade within the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) region. He mentioned the establishment of 5,000 km of multi-country waterways, a transformative initiative that will enhance trade and transportation across the region. These efforts align with Prime Minister Shri Narendra Modi’s vision of enhancing regional connectivity and promoting economic cooperation.
Commitment to Environmental Sustainability
The Union Minister reiterated India’s commitment to developing environmentally conscious shipping solutions. Under the visionary leadership of Prime Minister Shri Narendra Modi, India proudly occupies the second rank in recycling worldwide, with a goal to become the top-ranking nation within the next two decades. To realize this vision, the government plans to introduce carbon-neutral alternatives and promote the use of battery-powered vehicles and equipment in major ports. With its vast coastline and more than 200 ports, India holds a strategic position in global trade.
