"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

Four trends that will shape healthcare post-Covid

The Covid-19 pandemic has disrupted economies and healthcare systems across the world. Even in the countries like the US that have the highest spend on healthcare and public health emergency preparedness, the impact of coronavirus pandemic on health and livelihoods of people has been tremendous. There are

India to play leading role in global revival: Modi

India would play a leading role in the global revival, prime minister Narendra Modi said on Thursday, as he addressed the inaugural session of India Global week via video-conference. He said that this is closely linked with two factors. “First is - Indian talent and second is India`s

BMC spells out numbers to counter Fadnavis’ claims

The BrihanMumbai municipal corporation (BMC) has countered Maharashtra leader of opposition Devendra Fadanvis’s suspicions of fewer Covid-19 tests, as it outlined various measures it has adopted since the first test conducted on February 3, and how it has gradually brought down the number of cases in

Mumbai opts for “most liberal Covid-19 testing” in the world

As part of the four T strategy of trace-test-track-treat, Mumbai – the most affected city in India – has decided to make Covid-19 tests accessible to all. The municipal corporation of Greater Mumbai (MCGM) has come out with guidelines allowing all laboratories to conduct RT-PCR (

Exit the Dragon, Enter the Tiger

In a major development on July 6, the Chinese army started moving back its tents, vehicles as well as troops from locations where disengagement was agreed upon in eastern Ladakh’s Galwan Valley. This is a significant milestone in regional geopolitics with India having been successful in isolating the

Hiranandani Group launches ambitious data centre project

With the Covid-19 pandemic pushing more online activity and the capacity usage of data centres going up, India’s largest data centre (DC) building and the biggest tier-IV data centre, Yotta NM1,the  second largest in the world, has been launched in Mumbai. The launch event on Tue



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter