India's maritime sector poised for growth; third edition of global maritime summit in Oct: Sonowal

The third edition of the Global Maritime India Summit will be held in October and will focus on various areas, including ports of the future, decarbonisation, coastal shipping and inland waterways transportation, Union minister Sarbananda Sonowal said on Tuesday.

At the curtain raiser event for the three-day summit, Sonowal also said the country's maritime sector is poised for growth, owing to proactive government policies around, ports, shipping and inland waterways.

The summit will be organised in association with industry body Ficci in the national capital from October 17 and around 50 countries are expected to participate.

According to a release, the summit is aimed at unlocking potential for new investment opportunities along with collaborations for knowledge and technology to enhance cooperation in trade and promote the ease of doing business.

Sonowal, who is the Minister for Ports, Shipping and Waterways, and his deputy Shripad Naik, among others, were present at the curtain raiser event on Tuesday.

''The huge potential of India's marine sector can play a significant and pivotal role in elevating the economic cycle towards an Aatmanirbhar Bharat by 2047, Sonowal said, adding that the government has identified investment opportunities worth Rs 10 lakh crore in the country's maritime sector.

''With an identified investment opportunities of more than Rs 10 lakh crore in the maritime sector of the country, we are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth of India,'' the minister said.

He urged all the maritime stakeholders to be part of the investment opportunities.

As per the release, the summit will also provide a platform for startups, researchers, incubators and innovators to showcase their technology and expertise.

India stands firmly on its commitment to developing environmentally conscious shipping solutions, Sonowal said.

''To propel this vision, we plan to inaugurate carbon-neutral alternatives and boost the use of battery-powered vehicles and apparatus in our major ports,'' he said.

Naik said the summit will represent a crucial milestone in the efforts to position India as a global maritime hub.

Through collaborative discussions and strategic partnerships, ''we aim to propel our maritime sector towards sustainable growth, bolstered by innovation and cutting-edge technology.'' Naik added.

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