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Modi Launches Third Global Maritime India Summit

The blueprint outlines strategic initiatives intended to improve port facilities, advance environmentally friendly behaviours, and foster global cooperation.
Sputnik
The third Global Maritime India Summit (GMIS) 2023 was officially inaugurated by Indian Prime Minister Narendra Modi on Tuesday via video conference.
In his speech, Prime Minister Modi stated that a new global order is emerging and that, as a result, the world is looking at India with new ambitions.
Sarbananda Sonowal, the Union Minister for Ports, Shipping, and Waterways, Nimal Silva, Minister of Ports, Shipping and Aviation, Govt. of Sri Lanka, Eknath Shinde, State Chief of Maharashtra, Dr Pramod Sawant, Chief State of Goa, Subhrakant Panda, Managing- Director of Federation of Indian Chambers of Commerce & Industry (FICCI), also, spoke on the event.
The summit will be held from October 17 to 19 in Mumbai.
The long-term plan for the Indian maritime blue economy, "Amrit Kaal Vision 2047," was announced by the Indian Prime Minister at the program. The strategy specifies tactical actions meant to advance port infrastructure, encourage environmentally friendly behaviour, and foster global cooperation.
Modi also laid the cornerstone for projects worth more than INR 23,000 crores i.e. $2.7 billion that are in compliance with the "Amrit Kaal Vision 2047" for the Indian maritime blue economy as part of this forward-thinking strategy.
The Prime Minister laid the cornerstone for the construction of Gujarat's Deendayal Port Authority's Tuna Tekra all-weather deep draft port, which is expected to cost more than INR 4,500 crores i.e. $540 million
The port will handle next-generation ships larger than 18,000 twenty-foot equivalent units (TEUs), and it will serve as a gateway for Indian trade via the India-Middle East-Europe Economic Corridor (IMEEC).

It is expected to become a major international commercial hub. More than 300 Memorandums of Understanding (MoUs) worth more than 7 lakh crore, i.e. $84 billion were also committed by the prime minister for international and domestic cooperation in the maritime industry.

The conference, which is the largest maritime event in the nation, will feature participation from ministers from the Middle East, Central Asia, South America, and Asia (including the BIMSTEC region). Global CEOs, business executives, investors, officials, and other stakeholders from across the globe- are also expected to attend the summit. Additionally, the Ministers and other dignitaries will represent several Indian states at the summit.
In addition to other topics, the three-day summit will mainly cover important maritime industry issues like ports of the future, de-carbonization, coastal shipping, inland water transportation, shipbuilding, repair and recycling, finance, insurance, and arbitration, maritime clusters, innovation and technology, maritime safety and security, and maritime tourism.
The summit offers a great setting to draw capital to the nation's maritime industry.
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