Maritime India Summit (MIS) 2016 has been inaugurated by Prime Minister Narendra Modi. The Summit is being organised from April 14-16, 2016 at Mumbai.
India is holding its first-ever maritime summit as Prime Minister Narendra Modi has pledged a massive boost for the sector in the coming years. The Indian leader promised to restore the country’s “position of eminence in the global maritime sector” by modernising ports.
Assuring that up to 10 million jobs would be created in the next decade Modi said that his government would help harness untapped resources in the maritime sector. He said the New Delhi administration wants to mobilise investment of Rs1tn (£10.6bn, $14.9bn) into development of ports.
According to Shipping Minister Nitin Gadkari, the Summit provides a unique platform for participants to explore potential business opportunities in Indian maritime sector.
“We will double the capacity of our ports to 3000 MTPA by 2025,” Gadkari said recently. According to Gadkari, the MIS is in pursuance of the government’s policy of giving prime importance to developing the countries infrastructure.
Some interesting facts about Maritime summit 2016
- PM Modi will release a national perspective plan on the Sagarmala Project with details of investments
- India and South Korea also signed a memorandum of understanding for cooperation and mutual assistance in the port sector.
- To be held at NSE Grounds in suburban Gorgaon, the summit will have 13 technical sessions, 200 exhibitors and 52 participants from South Korea, which is the partner country for the event.
- At the three-day summit, agreements entailing investments of over Rs 82,000 crore will be signed. This includes 35 concession agreements of Rs 5,900 crore, 20 work orders of Rs 8,250 crore and 86 MoUs involving an investment of over Rs 68,700 crore.
- It will also have a museum resembling a ship displaying the maritime history of the country, made by art director Nitin Desai.
- More than a dozen union ministers are expected to address the summit, for which 3,000 delegates, including 300 from 41 countries, have registered.
