Modi woos investors at Maritime India Summit


Prime Minister Narendra Modi said that India’s long coastline offers huge investment opportunities, and this is the right time for global communities to come and invest in maritime industry. He was addressing the first ever Global Maritime India Summit 2016 organised in Mumbai today.

Prime Minister said that coastal way is the most eco friendly and cheapest way for international trade and his government is focusing to increase the maritime trade capacity from 1400 million tonnes to 3000 million tonne up to 2025. Mr. Modi further said the government will mobilise Rs 1 lakh crore for port-led growth. He said, his government wants to modernise ports and integrate them with SEZs.

Mr. Modi said, 10 million jobs will be created under Sagarmala in next 10 years. Giving emphasis on coastal trade, he said that our lifestyle, transport system and trading behaviours should not disturb ecology. He also emphasised the need for collective efforts to curb sea piracy. While praising Dr. Ambedkar’s vision and policies in waterways, irrigation and ports sector, PM said that he taught us how water resources should be used.

Prime Minister said that Shipping ministry’s efforts to increase the capacity of port and coastal trade area clearly visible today. FDI inflow in shipping sector has increased. He assured investors that a number of initiatives would be taken for ease of doing business and appealed them to invest in maritime business. Minister of Shipping and road transport Nitin Gadkari, Governor of Maharashtra Chennamaneni Vidyasagar Rao, Chief Minister Devendra Fadnavis and other dignitaries were present on the occasion.