GMIS 2023 Concludes with Rs 10 Lakh Crore Investments, Anchoring India's Maritime Future

India’s Maritime Sector Charts a Course Towards ‘Amrit Kaal Vision 2047’

The Global Maritime India Summit (GMIS) 2023 concluded on a high note, leaving a significant mark in the maritime sector by anchoring a whopping Rs 10 lakh crores of investment during the three-day event. This remarkable achievement is a step forward in the realization of ‘Amrit Kaal Vision 2047,’ a visionary roadmap outlined by Prime Minister Narendra Modi for the development of India’s maritime sector, aiming for a staggering Rs 80 trillion investment by 2047.

The valedictory session of GMIS 2023 was graced by prominent figures, including the Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal, who unveiled the ‘GMIS 2023 Mumbai Declaration.’ Joining him were key figures like the Union Minister of Finance, Nirmal Sitharaman; the Union Minister of Commerce & Industry, Piyush Goyal; the Union Minister of Education and Skill Development & Entrepreneurship, Dharmendra Pradhan; the Chief Minister of Gujarat, Bhupendrabhai Patel; the Deputy Chief Minister of Maharashtra, Devendra Fadnavis; Union Minister of State for Ports, Shipping & Waterways, Shripad Naik, and the Union Minister of State for Ports, Shipping & Waterways, Shantanu Thakur, among others.

Sarbananda Sonowal, in his address, expressed his delight at the overwhelming response to the GMIS 2023, stating, “The Global Maritime India Summit, 2023 has made a wonderful beginning by securing an investment commitment of more than ₹10 lakh crores towards achieving the vision of our visionary Prime Minister Shri Narendra Modi ji as envisioned in the Maritime Amrit Kaal Vision, 2047.” He emphasized that the summit has set the trajectory for India to become a global maritime hub by fostering regional cooperation and collaboration among maritime nations.

Piyush Goyal commended the Ministry of Ports, Shipping, and Waterways for enhancing India’s EXIM trade capacity, achieving over 450 billion dollars of trade in 2022-23.

GMIS 2023 was a global gathering, featuring participation from more than countries, 215 international and national speakers, and 50,000 physical and virtual attendees. The summit built upon the legacy of its preceding editions, offering expanded opportunities for domestic and international maritime stakeholders.

In line with India’s commitment to technological advancement and innovation, Sarbananda Sonowal highlighted the establishment of the Digital Centre of Excellence for Maritime Efficiency (COEME) as a significant initiative, demonstrating the government’s dedication to technological progress. He also emphasized the importance of harnessing India’s maritime startup ecosystem as a key focus area for the government.

Sustainable development and green practices in the maritime sector were central to the discussions at GMIS 2023. India plans to lead the way in achieving carbon neutrality and reducing GHG emissions by adopting green fuels, electrified/renewable energy-based yard equipment, and vehicles. These practices align with global trends and highlight India’s commitment to environmental responsibility.

GMIS 2023 marked a milestone in the journey of India’s maritime sector, aligning with the ambitious ‘Amrit Kaal Vision 2047.’ The summit showcased the country’s potential to become a global maritime powerhouse while emphasizing sustainable and technologically advanced practices, under the visionary leadership of Prime Minister Narendra Modi. With the tremendous investments and collaborative efforts on display, the future of India’s maritime sector appears promising and prosperous.

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