Indian Economy News

India's Container Handling Capacity Set for a Twofold Increase in 5 Years

In a comprehensive press conference today, Union Minister of Ports, Shipping and Waterways, Mr. Sarbananda Sonowal, provided an extensive overview of the significant milestones achieved by the Ministry during its first 100 days. The event highlighted the Ministry's contributions toward transforming India's maritime sector in alignment with the Maritime India Vision 2030 and Maritime Amritkaal Vision 2047. The conference commenced with a detailed address by Secretary of the Ministry, Mr. T.K. Ramachandran, followed by remarks from Minister Sonowal, both underscoring the Government’s proactive measures to revolutionize India’s maritime infrastructure. He acknowledged the unwavering guidance of Prime Minister Mr. Narendra Modi, whose vision of “Ports for Prosperity and Ports for Progress” serves as a cornerstone for India's maritime transformation. He emphasised that Prime Minister Mr. Narendra Modi's focus on holistic development and his “Transformation through Transportation” mantra is pivotal in overhauling India's maritime landscape.

During his address, He elaborated on major initiatives aimed at enhancing port infrastructure, improving the ease of doing business, promoting sustainability, and generating employment opportunities. He highlighted the addition of Vadhvan Port, marking a significant milestone in India's maritime journey, alongside the notification of Galathea Bay as a major port. In the next 5 years, the Ministry of Ports, Shipping and Waterways (MoPSW) projects container handling to reach 40 million TEUs, creating 2 million jobs nationwide. Furthermore, the strategic importance of shipbuilding and repair is recognized by developing dedicated clusters in states like Maharashtra, Kerala, Andhra Pradesh, Odisha, and Gujarat. The Minister also announced the allocation of over 3,900 acres in Kandla and VOC Port for hydrogen manufacturing hubs, positioning India as a leader in clean energy. With initiatives like the upcoming “Sagarmanthan: The Great Ocean Conference” in Mumbai this November, the focus on ocean sustainability and blue economy growth remains paramount. The Ministry aims to achieve the ambitious goals outlined in the Maritime India Vision 2030, fostering sustainable growth, innovation, and significant employment opportunities within India’s maritime sector.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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