Maritime sector moving towards a bright future

Visakhapatnam: The country is looking at the blue economy and is striving to lead the blue economy by 2030 as aspired by Prime Minister Narendra Modi, said Infrastructure and IT Minister Gudivada Amarnath.

Speaking at the roads how organised as a prelude of the third edition of the Global Maritime India Summit (GMIS) 2023 hosted by Visakhapatnam Port Authority (VPA), the minister mentioned that with 7,500-km of coastline in the country and Andhra Pradesh having the second largest coastline in the country stretching up to 974-km, the maritime sector in the country has a bright future.

Further,Amarnath highlighted the Indian maritime sector’s potential as the catalyst for both domestic and international connectivity, propelling global trade and investments in the country. “Collaborating with central, state governments and the private sector, we aim to enhance infrastructure, logistics, industrialisation and employment. Andhra Pradesh plays a pivotal role in fostering seamless trade relationships. The minister gave a detailed digital presentation on the overview of the maritime sector of the country and state and its roadmap ahead.

VPA Chairperson M Angamuthu stated that the time is apt for those who want to invest in the maritime sector as it is flourishing. He mentioned that the road show is an avenue to bring in all the stakeholders into one platform. He further informed that the port has proposed investments worth Rs 34,000 crore with government and private agencies. MoUs related to these proposals will be signed during the ensuing ‘Global Maritime India Summit’ to be held in New Delhi from October 17 to 19.

Experts shared details on the future of Indian maritime industry, investment opportunities, policy discussions and agreements, networking and business opportunities and tapping skilled workforce.

Delivering a special address in a virtual mode, Minister of Ports, Shipping and Waterways (MoPSW) and Ayush, Sarbananda Sonowal underlined the strategic significance of fostering maritime growth and connectivity in the region.

During his virtual address, Minister of State, Ministry of Ports, Shipping and Waterways Shantanu Thakur, shared, “India’s maritime sector has experienced an incredible transformation over the years, which is a testament to the collaborative efforts of the government, industry stakeholders, and the maritime community. With the potential to emerge as a global maritime hub, our economic growth yields employment opportunities and reinforces our role in international trade.”

Joint Secretary (Sagarmala), MoPSW Bhushan Kumar gave a detailed powerpoint presentation of the overview of GMIS 2023 and invited AP government, stakeholders and others to make use of the opportunity in the ensuing summit being held from 17th to 19th October in New Delhi.

Speaking about the maritime potential of AP region, BJP MP GVL Narasimha Rao, said, “The strategic geographical location of Andhra Pradesh equips it to serve as a critical gateway for the landlocked states of Telangana, Chhattisgarh, Madhya Pradesh, parts of Maharashtra, etc.,

He added, “The collaborative effort between the Visakhapatnam Port Authority (VPA) and the Union Ministry of Tourism to establish a cruise terminal paints a promising picture of the burgeoning industry.”

Chairman of AP Maritime Board K Venkata Reddy, Deputy Chairperson Durgesh Kumar Dubey, among others, spoke on the occasion.