After Digital India, it's time for maritime India

Major display of maritime projects planned

Going beyond manufacturing and Digital India, the National Democratic Alliance government is now going to seek big-ticket investments in the maritime sector. It is working on a slew of projects to attract domestic and foreign investments in the ports and shipping sectors. The Union shipping ministry has asked all its wings to come up with project lists in their respective areas. The potential projects will be showcased overseas through road shows followed by a three-day investment summit 'Maritime India Summit 2016' being planned in Mumbai in February 2016.

Prime Minister Narendra Modi is likely to inaugurate the summit. "This is for the first time; we are organising road shows in India as well as overseas to attract investor community in the summit. The maritime sector has immense investment potential," said a senior government official.

The ministry of shipping has asked the Inland Waterways Authority, Shipping Corporation of India and all ports to prepare a list of investable projects in their areas. It is expected that over 100 detailed projects would be offered, where there are investment opportunities such as port-led development under the Sagarmala project and ship building under the 'Make in India' scheme. Besides, investment is likely to be sought in inland waterways, coastal and cruise shipping, specialised cargo handling and port mechanisation, etc.

The 12th Five Year Plan has estimated a total investment of Rs 1,80,626 crore ($30.05 billion) in the ports sector. India has 12 major and 187 notified non-majors with ports on the east and west coast of the country.

"We are expecting participation from state maritime boards, global participation, maritime fraternity in India, etc. We are expecting over 2,000 delegates in the summit. We would also have one partner country for the summit," said another official. He further added that the ministry is working with all the industry chambers to reach out to the wider audience.

Senior official maintained that the maritime sector is on the top most agenda of the government to promote bilateral ties with other countries. India's assistance to Iran to develop the Chabahar port, coastal shipping agreement with Bangladesh, signing of a pact with Korea in maritime transport and initiating container service from India to Myanmar are some of developments in this respect.