India's Ambitious Maritime Development Plans and Green Initiatives
Key Ideas
- India aims to become one of the top five shipbuilding nations by 2047 through policy incentives, ease of doing business, and infrastructure enhancement.
- Efforts are underway to establish Green Hydrogen Hub Ports in Kandla, Tuticorin, and Paradip to pioneer the use of alternative fuels in the maritime domain.
- The country is investing USD 20 billion in infrastructure development to enhance multi-modal logistics, port connectivity, and trade facilitation by 2047.
- India is engaging with global partners to establish Virtual Trade Corridors and strategic corridors to ensure diversified and secure trade routes across continents.
India's Minister of Shipping, Ports and Waterways, Sarbananda Sonowal, highlighted the country's significant strides in maritime development during the Singapore Maritime Week. The Minister emphasized India's goal to become a top shipbuilding nation by 2047 through policy incentives and infrastructure enhancement. Green initiatives were a key focus, with plans to establish Green Hydrogen Hub Ports in Kandla, Tuticorin, and Paradip to support the manufacturing of green hydrogen and low-carbon vessels.
India is also investing USD 20 billion in infrastructure development to boost port efficiency, trade facilitation, and logistics connectivity by 2047. Collaborations with global partners like the UAE and Singapore are underway to create Virtual Trade Corridors for seamless cargo movement. Additionally, strategic corridors such as the India-Middle East-Europe Economic Corridor and the Eastern Maritime Corridor are being developed to ensure secure trade routes.
The Minister highlighted India's commitment to a green and sustainable maritime future and stressed the importance of digitalization and innovation in the shipping industry. The proposed Maritime Development Fund will play a crucial role in financing fleet expansion, shipyard modernization, and strategic infrastructure projects. Sonowal emphasized the vision of creating a maritime world that benefits all of humanity and emphasized the unity brought by oceans in overcoming challenges and seizing opportunities.
Topics
India
Green Initiatives
Digitalization
Global Partnerships
Port Infrastructure
Trade Facilitation
Maritime Development
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