India Charts Ambitious Course for Maritime Sector with Historic MoUs

On September 19, a historic MoU Exchange Ceremony for India's maritime sector took place in Bhavnagar, Gujarat. Prime Minister Narendra Modi initiated several projects aimed at transforming the industry. With agreements worth ₹66,000 crore, the event marks a significant step toward establishing India as a leading global maritime hub.

In a monumental event for India's maritime future, an MoU Exchange Ceremony took place on September 19 in Bhavnagar, Gujarat, coinciding with the "Samudra Se Samriddhi - Transforming India's Maritime Sector" programme. Addressed by Prime Minister Narendra Modi, the gathering launched several projects poised to revolutionize India's maritime industry.

Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, alongside other high-ranking officials, oversaw the signing of 27 Memoranda of Understanding (MoUs) on September 18. These agreements, valued at over ₹66,000 crore, unite public and private sector interests in advancing port infrastructure, shipbuilding, and sustainable maritime projects.

The ambitious initiatives highlight India's integrated strategy for maritime growth, incorporating new port facilities, global shipyard partnerships, and innovative financing. They are projected to create thousands of jobs and reposition India as a dominant maritime nation. A landmark agreement involves developing a new port in Odisha, promising substantial industrial growth and job creation.

(With inputs from agencies.)