PM unveils ‘Amrit Kaal Vision 2047′, the long-term blueprint for the Indian maritime blue economy

PM laid the foundation stone of projects worth more than Rs 23,000 crores that are aligned with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy.

The Prime Minister, Narendra Modi inaugurated the third edition of Global Maritime India Summit 2023 in Mumbai via video conferencing today. The Prime Minister also unveiled ‘Amrit Kaal Vision 2047’, a blueprint for the Indian maritime blue economy. The blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration.

In line with this futuristic plan, the Prime Minister inaugurated, dedicated to the nation and laid the foundation stone for projects worth more than Rs 23,000 crores that are aligned with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy. The summit provides an excellent platform for attracting investment in the country’s maritime sector.

Addressing the gathering, the Prime Minister said that India’s economy is constantly strengthening in a world dealing with economic crisis, and the day is not far when India will become one of the top 3 economies in the world. Underscoring the role of sea routes in global trade, the Prime Minister emphasised the need for a reliable global supply chain in the post-Corona world.

The summit is the biggest Maritime Event in the country and will witness the participation of Ministers from across the globe representing countries from Europe, Africa, South America, and Asia (including central Asia, Middle East and BIMSTEC region). The summit is also to be attended by Global CEOs, Business leaders, Investors, Officials, and other stakeholders worldwide. Further, several Indian states will also be represented at the summit by the Ministers and other dignitaries.

The three-day summit will discuss and deliberate key issues of the maritime sector including ports of the future; decarbonisation; coastal shipping and inland water transportation; shipbuilding; repair and recycling; finance, insurance & arbitration; maritime clusters; innovation & technology; maritime safety and security; and maritime tourism, among others. The summit provides an excellent platform for attracting investment in the country’s maritime sector.

The first Maritime India summit was held in 2016 in Mumbai while the Second Maritime Summit was held virtually in 2021.

The Prime Minister laid the foundation stone of Tuna Tekra all-weather deep draft terminal, to be built at a cost of more than Rs 4,500 crores at Deendayal Port Authority in Gujarat. This state-of-the-art greenfield terminal will be developed in PPP mode. The terminal, which is likely to emerge as an international trade hub, will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs) and will act as a gateway for Indian trade via the India-Middle East-Europe Economic Corridor (IMEEC). The Prime Minister also dedicated more than 300 Memorandums of Understanding (MoUs) worth more than 7 lakh crore for global and national partnerships in the maritime sector.

PM laid the foundation stone of projects