The Centre has drawn an ambitious plan to double port capacity to 3,000 million tonnes per annum in next ten years, opening up an investment opportunity of ₹1 lakh crore.

To start with, five new ports have been identified and among them work has started in three. Capacity is also being enhanced at the existing 12 major ports.

Inaugurating the first-ever Maritime India Summit here on Thursday, Prime Minister Narendra Modi said the government wants to promote port-led development and energise coastal economy with an intent to modernise ports and integrate them with special economic zones, port-based smart cities, industrial parks, warehosuses, logistic parks, cold storage and transport corridors.

Blessed with 7,500 km of coastline, the country offers huge investment opportunities, which includes development of strategic locations to connect with highways and productive hinterland waterways.

Listing out the concessions given by the Government to develop ports in last two years, Modi said major ports have added record capacity of 165 million tonne with capacity addition by big ports accounting for 94 million tonne.

Despite global slowdown, port traffic registered a healthy growth four per cent in last two years. Last fiscal, the operating income of 12 major ports increased to ₹6.7 billion. Under the Sagar Mala project major ports have awarded 56 new projects involving investment of ₹250 billion. This will create additional port capacity of 317 million tonnes per annum, he said.

“Our vision is to increase port capacity to 3,000 million tonne from 1,400 million tonne by 2025. We want to mobilise investment of ₹1 lakh crore in the port sector,” he said.

The proposed increase in port capacity coupled with rise in coal production is expected to enhance coastal transportation of coal by four folds by 2025.

India is displaying 250 projects at the Maritime Expo with huge investment opportunity. These projects include infrastructure development opportunity in 12 major ports, projects in eight maritime states and among these 100 projects have been identified under Sagar Mala.

All this is being done to empower youth in the coastal community, particularly the fishermen. The developments will create 4 million direct and 6 million indirect job opportunities. To further broaden livelihood opportunity the government is planning to deploy modern and sophisticated fishing vessels.

To sum up, Modi said this is the right time to come to India and it is even better time to come through the sea route.

“Indian ships are well equipped for a long haul. Missing this opportunity means missing a pleasant journey and a great destination. Once you are here, I assure you that I will personally hold your hands to make you feel safe, secured and satisfactory,” he said.

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