Assuring over 100 foreign maritime delegates participating in Maritime India Summit 2016 of ease of doing business in India, Minister of Shipping, Road Transport and Highways Nitin Gadkari on Friday said, "Maritime development is high on the priority list of our Government as it has the potential of opening a new era of foreign investment in ship building, ship repair, ship breaking, inland water transportation, cruise shipping, and hinterland connectivity, to name a few."
Talking about 'Sagarmala', he said our plan is to reduce the logistic cost from 18 to 10 percent.
"The logistic cost is very important in international trade and business. The logistic cost in China is 8 percent; while in India, it is 18 percent. And, that is one of the reasons that why it is difficult for our industry to compete with China's price. So, the most important thing for our country is how it can reduce the logistics' cost," he said.
"In the World Bank Logistics Performance Index, India ranks 54. India's 95 percent exim trade volume happens through ports. Distance for exim container movement for India is 700-1000 km from industry to port is higher than China, where the distance is 150-300 km," he underlined.
Resonating government's resolve to become one of the top global maritime hubs, Gadkari later met about 100 high-level foreign delegates from Bangladesh, Maldives, Mauritius, Madagascar and Sudan.
The summit is the flagship initiative of the Ministry of Shipping, with a view to unleash the potential of Indian Maritime Sector to the world.
The summit showcased various thematic sessions based on the government's ambitious 'Sagarmala' project for port-led development.
Gadkari underlined various efforts that the Government has undertaken to enhance bilateral economic cooperation in shipping, ports, railways, and trade and commerce.
South Africa's Deputy Minister of Transport, Mr. Sindiswe Chikunga was accompanied by Mr. Mthunzi Madiya, acting CD-Maritime Infrastructure and industry development, Mr. Themba Nkontwana, Director-Multilateral Coordination, Mr. Collins Makhado, SAMSA Executive, Mr. Mahesh Fakir, ECO-Ports Regulator, Ms. Thato Tsaute, Managing Director-Maritime Cluster and Mr. Richard Vallihu, CEO-Transnet who met Shri Gadkari.
Similarly, Bangladesh Shipping Minister Mr. Shahjahan Khan, Chittagong Port Trust Chairman Admiral Khalid Iqbal, Bangladesh Shipping Corporation Chairman Mr. Habibur Rehman were among the delegates from in the bilateral meeting.
Representatives from Maldives comprised Economic Development Minister Mohamed Saeed, Maritime Director General Abdul Nasir and other officials.
Mauritius Minister of Ocean Economy (Marine Resource) P. Koonjoo, Madagascar Minister of Tourism, Transports and Meteorology Addriantiana Ulrich and Sudan Minister of Transport, Roads and Bridges Makkawi Mohamed Awad Oshi were some of the prominent delegates who shared ideas with Gadkari.
