India Commits $20 Billion For Maritime Infrastructure Development: Sarbananda Sonowal

New Delhi: India has dedicated $20 billion for infrastructure building thinking about bettering multimodal logistics, port connectivity, and business facilitation, Union Minister Sarbananda Sonowal stated on Thursday. 

Delivering the keynote speech on the India Country Session in Oslo and highlighted India’s rising maritime features, together with a beneficial policy-induced funding setting, confirmed shipbuilding power, round financial system efforts, and leading edge financing plans to boost up sectoral enlargement, he stated: “Under the able and visionary leadership of Prime Minister Narendra Modi, India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat. These goals envisage India as a modern, self-reliant, inclusive, and globally engaged economy.”

In this adventure, the maritime sector is central – no longer simply as a motive force of enlargement, however as an enabler of resilience, sustainability, and strategic connectivity. “India has launched wide-ranging efforts to expand port infrastructure, integrate logistics systems, and improve ease of doing business for the private sector. These reforms are already bearing fruit in the form of increased port efficiency, stronger cargo flows, and rising investor confidence,” he stated.

The Shipping Minister additionally highlighted strengthening of maritime connectivity and provide chains with strategic corridors just like the India-Middle East-Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North-South Transport Corridor (INSTC).

“India is working to become a credible and competitive alternative. Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047,” he stated.

India is organising 3 Green Hydrogen Hub Ports — Kandla, Tuticorin, and Paradip — to enhance the producing of inexperienced hydrogen and its derivatives and to pioneer using choice fuels within the maritime area.

“We are also proud to lead under the IMO’s Green Voyage 2050 initiative, assisting developing countries in their energy transitions,” he added. India’s maritime virtual ecosystem is present process a metamorphosis. Initiatives similar to ONOP (One Nation-One Port Process), National Logistics Portal (Marine), and MAITRI – Virtual Trade Corridor are making a unified nationwide platform for port services and products and EXIM business.

“These efforts are improving operational transparency, reducing transaction time and building real-time data systems. We are also engaging with global partners to establish Virtual Trade Corridors that will digitally connect ports, enabling seamless cargo movement and reducing bottlenecks,” stated the minister.