NEW DELHI: The Central government has identified investment opportunities worth more than Rs 10 lakh crore in the maritime sector that can generate employment opportunities for 15 lakh youths, and can play a vital role in India’s economic progression in the Asia-Pacific region, said Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, on Tuesday.
Addressing the curtain raiser for the upcoming Global Maritime India Summit (GMIS) 2023 in Mumbai, Sonowal emphasised the vital role of the maritime sector in India’s economic progression and the potential it holds for the Asia-Pacific region. “India can lead from the front,” Sonowal said. He added that India’s maritime sector is poised for growth, owing to proactive government policies around ports, shipping and inland waterways.
“As key driver of India’s maritime sector, our ministry has been organising the Global Maritime India Summit, to create value from the vast potential of India’s rich maritime sector,” he said, adding, “With an identified investment opportunities of more than Rs 10 lakh crore in the maritime sector, we are standing at a threshold of a major economic upswing that can generate employment opportunities for more than 15 lakhs youth of India.”
More than 50 countries will participate in the GMIS 2023, to be held on October 17-19 this year at Pragati Maidan in New Delhi, with FICCI as the exclusive industry partner. Building upon the legacy of its preceding editions, the third meet aims to unveil broader prospects for domestic and international maritime stakeholders.