India has become a model investment destination : Sarbananda Sonowal

MUMBAI : Union Minister for Ports, Shipping & Waterways, Shri Sarbananda Sonowal said that India has become a model investment destination. Addressing a pre-event on the upcoming Global Maritime India Summit 2023, Mr. Sonowal said efficiency and cargo handling capacity of Indian ports has increased manifold in the past decade due to the various initiatives taken by the Centre, especially the Sagarmala project.

Talking about the third edition of the Global Maritime India Summit 2023, Mr. Sonowal said more than 40 countries will participate in the summit. He added that close to 300 MoUs are expected to be signed leading to an investment of close to ten lakh crore rupees and 1.5 million jobs. The minister said India’s vision is to foster a blue economy, promoting the development of green ports, sustainable infrastructure, cruise tourism and attracting global investments to propel the maritime industry forward.

The Global Maritime India Summit 2023 (GMIS 2023) is scheduled to be held from 17th to 19th October at MMRDA Grounds, BKC, Mumbai. Mr. Sonowal said, each session of GMIS-2023 has been designed to deliberate upon pressing global maritime issues, in line with the vision of “One Earth One Family One Future”. The summit has identified several focus areas, including Ports of the Future, Decarbonisation, Coastal Shipping and Inland Water Transport (IWT), Shipbuilding, Repair and Recycling, Finance, Insurance and Arbitration, Innovation and Technology, Maritime Safety and Security, and Maritime Tourism.

The event promises an impressive lineup of around 150 exhibitors, comprising a mix of domestic and global companies alongside government organisations. Around 50,000 visitors and delegates are expected to participate in the event. The event will bring together an array of global maritime players, policymakers, regulators, and key opinion leaders across multiple forums.