In an upcoming three-day event, Prime Minister Narendra Modi will virtually inaugurate the third edition of the Global Maritime India Summit (GMIS) in Mumbai. During this summit, he will introduce “Amrit Kaal Vision 2047,” a comprehensive roadmap for India’s maritime economy, emphasizing long-term goals. The vision encompasses strategic initiatives aimed at improving port facilities, promoting sustainable practices, and fostering international cooperation.
Investments Worth Billions and Groundbreaking Projects
The GMIS event aligns with this forward-looking vision, with the Prime Minister set to lay the foundation stone for projects worth over Rs 23,000 crore. These projects play a significant role in achieving the objectives outlined in “Amrit Kaal Vision 2047.” One notable project includes the Tuna Tekra all-weather deep draft terminal, which will be built at the Deendayal Port Authority in Gujarat. This state-of-the-art terminal, developed through public-private partnership (PPP), is expected to become a vital international trade hub, accommodating advanced vessels and serving as a key gateway for Indian trade.
Global Collaborations: MoUs and International Participation
The summit will witness the unveiling of more than 300 Memorandums of Understanding (MoUs) valued at over Rs 7 lakh crore. These agreements will facilitate partnerships in the maritime sector, both nationally and globally. The GMIS event is set to be the largest maritime gathering in India, with the participation of ministers from regions like Europe, Africa, South America, and Asia, including Central Asia, the Middle East, and BIMSTEC countries. In addition to government officials, global CEOs, business leaders, investors, and stakeholders will be actively engaged in discussions. Various Indian states will also have a significant presence at the summit.
Key Summit Themes: Fostering Maritime Progress
During the three-day summit, several important themes will be explored and deliberated, including:
- Port Development: Discussions will focus on future-oriented port development, which is crucial for facilitating trade and commerce.
- Decarbonization: Participants will explore measures to reduce carbon emissions in the maritime sector, aligning with sustainable practices.
- Coastal Shipping and Inland Water Transportation: The importance of efficient coastal and inland water transportation will be emphasized for enhanced connectivity.
- Shipbuilding, Repair, and Recycling: The maritime industry’s growth depends on shipbuilding, repair, and recycling capabilities.
- Finance, Insurance, and Arbitration: Financial strategies and insurance mechanisms will be explored for risk management.
- Maritime Clusters: The development of maritime clusters, fostering collaboration and innovation, will be discussed.
- Innovation and Technology: The role of technological advancements in improving the maritime sector’s efficiency and effectiveness.
- Maritime Safety and Security: Ensuring the safety and security of maritime operations is paramount.
- Maritime Tourism: The potential of maritime tourism will be explored, opening up new avenues for growth.
A Platform for Investment in India’s Maritime Sector
The Global Maritime India Summit offers an exceptional platform for attracting investments in India’s maritime sector. This investment is pivotal in realizing India’s maritime ambitions and advancing the nation’s position on the global maritime map.
A Milestone Event for India
The inaugural edition of the GMIS was held in Mumbai in 2016, followed by a virtual edition in 2021. This third edition signifies a significant milestone for India, showcasing its commitment to maritime growth and international collaboration.
