Virendra Pandit
New Delhi: India is poised soon to be among the three largest economies in the world, Prime Minister Narendra Modi said on Tuesday.
The day is not far when India will achieve this distinction, he said, adding that everyone was looking at the country in the hope that it would lead the efforts for a new world order.
Inaugurating a three-day Global Maritime India Summit in Mumbai via video conferencing, PM Modi said, “In this changing world order, the whole world is looking towards India with new aspirations. The Indian economy is gathering more strength while the world is in the grip of an economic crisis.”
Highlighting the importance of India’s maritime sector, he said whenever its maritime capability strengthened, the country and the world benefited greatly.
Referring to the proposed India-Middle East-Europe Economic Corridor (IMEEEC), mooted during the G-20 Summit in New Delhi in September, PM Modi said once it is implemented, it will boost maritime trade worldwide.
“Recently, during the G-20 Summit, a historic consensus was reached on forming this corridor. This is a huge step at India’s initiative, which could potentially boost the maritime industry across the world in the 21st century,’ he said.
He also laid the foundation stone for projects worth Rs 23,000 crores, including the Rs. 4,500 crore Tuna Tekra all-weather deep draft terminal, at Deendayal Port Authority in Gujarat. The state-of-the-art greenfield terminal will be developed on the public-private partnership (PPP) model.
He also unveiled the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy.
The first edition of the Global Maritime India Summit, the biggest event in this sector, was held in 2016 in Mumbai, and the second virtually in 2021. The third Summit is also being held in Mumbai from October 17 to 19.
It will discuss and deliberate key issues of the maritime sector including ports of the future, decarbonization, coastal shipping and inland water transportation, shipbuilding, repair and recycling, finance, insurance and arbitration, maritime clusters, innovation and technology, maritime safety and security, and maritime tourism, among others.
It will also provide a platform for attracting investment in India’s maritime sector.