Prime Minister Narendra Modi said on Tuesday that India would invest $ 82 billion in port projects by 2035, increase the share of clean renewable energy source in the maritime sector, develop waterways and promote tourism.
Speaking at the Maritime India Summit, he invited global investors to invest in Indian ports, shipyards and waterways.
Under the Sagarmala project, more than 574 projects have been identified for implementation between 2015 and 2035 costing $ 82 billion or ₹ 6 lakh crore.
He said that the government wants to operate 23 waterways by 2030.
“Our government is a government that is investing in waterways in a way never seen before. Domestic waterways are effective and environmentally friendly modes of freight transportation, ”he said.
In addition, plans have been drawn up to develop tourism on the land adjoining 78 out of 189 lighthouses on Indian coastline.
“It is aimed at the development of existing lighthouses and its surrounding areas into unique maritime tourist destinations,” he said, adding that the government has also initiated the overall development of the islands.
Also, clean renewable energy is being used in the maritime sector.
“We are in the process of installing solar and wind based power systems in all major ports across the country. We aim to increase the use of renewable energy in Indian ports in three phases to more than 60 percent of all energy by 2030.
Shri Modi said that Indian ports have reduced waiting time for incoming and outgoing cargo. “India is very serious about growing in the maritime sector and emerging as the world’s leading blue economy,” he said.
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