"India’s shipping sector has more potential than the road sector"

A total of 141 agreements were signed by various players in the maritime sector at the Maritime India Summit

geetanjali

Geetanjali Minhas | April 16, 2016 | Mumbai


#nitin gadkari   #rajnath singh   #maritime india summit   #maritime  
Nitin Gadkari, union minister for road transport & highways and shipping, at the Maritime India Summit, in Mumbai
Nitin Gadkari, union minister for road transport & highways and shipping, at the Maritime India Summit, in Mumbai

The first-ever Maritime India Summit attracted investments worth Rs 82,905 crore. A total of 141 MoUs and business agreements were signed by various players in maritime sector at the three-day event. Talking about the Sagarmala Port Project, home minister Rajnath Singh said that the project will not only redefine inland transportation but also revolutionise it. “It is certain that India will become an economic superpower. Nitin Gadkai (union minister for road transport and highways and shipping) has imagination, vision and conviction. Under his leadership, contribution of shipping industry to the GDP of the country will increase by 2-3 times in the next five years,” Singh said.

 
Nitin Gadkari said that the shipping sector has far more potential than the road sector but unfortunately it has remained neglected so far. “To become a leading country in the world we will have to develop our ports and shipping sector. For the first time in the history of India 12 of our major ports have seen a profit of Rs 4,200 crore,” he said.
 
The minister also said that the value of contracts signed will reach Rs 2,00,000 crore before May 26, when the government completes two years at the centre.
 
Talking about the achievements of the shipping sector, Gadkari said that Indian defence ministry’s contract of Rs 50,000 crore for the Cochin Shipyard and another order of Rs 25,000 crore ensured a huge inflow of money to the troubled shipping sector. 
 
Emphasising on the importance of housing in port area, Gadkari said that development of low cost residential areas near Sagarmala will be of equal importance to avoid proliferation of slums. “Forty coastal economic zones are being developed as part of port-led development. We have received Rs 8 lakh crore for port industrialisation in 27 clusters,” he said. 
 
“Inland waterways is an important project for the Indian government which can be a game changer and bring in socio- economic transformation. The Sagarmala project will reduce logistic cost from 18% to 10% and further down to 8%,” Gadkari added.
 
Many agreements covering activities like modernisation of existing ports and establishment of new ones, development and extension of inland waterways, enhancement of cargo handling capacity, etc, were also signed by major ports, state maritime boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, and Inland Waterways Authority of India.
 

Comments

 

Other News

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said:

PM leaves for Russia, Austria

All eyes are on the Narendra Modi-Vladimir Putin meeting, as the prime minister left Monday for an official visit of Russia as also of Austria. In the ‘departure statement, the PM said, “I am embarking on an official visit to the Russian Federation for the 22nd Annual Summit and

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter