Global Maritime Summit: Modi unveils blueprint for blue economy

New Delhi: Prime Minister Narendra Modi will inaugurate the third edition of the Global Maritime India Summit 2023 on Tuesday and unveil a blueprint for an ocean blue economy.

The map outlines strategic initiatives aimed at improving port facilities, promoting sustainable practices and facilitating international cooperation, the Prime Minister’s Office said.

Modi will initiate, dedicate to the country and lay the foundation stone for more valuable projects 23,000 crore is linked to the 'Amrit Kal Vision 2047′ for India’s maritime blue economy, the statement added.

The prime minister will lay the foundation stone for the cost-effective Tuna Tegra all-weather deep draft terminal. 4,500 crore in Deendayal Port Authority in Gujarat.

This state-of-the-art greenfield terminal will be developed under PPP mode. The terminal, which is shaping up to be an international trade hub, will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs) and will act as a gateway for Indian trade through the India-Middle East-Europe Economic Corridor. IMEEC).

During the event, the Prime Minister will inaugurate more than 300 Memorandums of Understanding (MoUs) worth over Rs 7 lakh crore for global and national partnership in the maritime sector.

The summit is the largest maritime event in the country. It will see the participation of ministers from around the world representing countries from Europe, Africa, South America, Asia (including Central Asia, the Middle East and the BIMSTEC region). The event will be attended by global CEOs, business leaders, investors, officials and other stakeholders from around the world. Also, several Indian states will be represented at the summit by ministers and other dignitaries.

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The three-day summit will discuss and debate key issues in the maritime sector, including future ports; Decarbonization; Coastal Shipping and Inland Water Transport; Shipbuilding; repair and recycling; Finance, Insurance & Arbitration; maritime gatherings among others.

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