Indian Maritime Development Can Create 10 Million Jobs

By Aiswarya Lakshmi
Saturday, March 19, 2016
Nitin Gadkari. Photo: The Ministry of Shipping

 Indian minister for shipping Nitin Gadkari has said port and shipping sector has potential to create nearly 4 million direct jobs and 6 million indirect employment opportunities over the next 5 years.

 
Gadkari said "all the developed countries have a vibrant port sector, but unfortunately, our maritime sector remained neglected over the years, despite having immense potential."
 
Recalling Prime Minister Mr. Narendra Modi’s thrust on port led development, Mr Gadkari said his Ministry has drawn up projects with investment potential of Rs 1,20,000 crores, (US $ 18 billion) which will be showcased at the India Maritime Summit to be held in Mumbai from April 14 -16. 
 
These include 27 port based industrial clusters, promotion of coastal shipping and development of inland waterways as part of the Sagarmala Project. 
 
The Minister said there was an urgent need to bring down the logistics costs to make our products as well exports competitive. “Currently logistics costs in India is about 18%, while it is 10-12% in Europe. Our focus is on bringing down the logistics cost from 18% to 12% by developing coastal shipping and inland waterways. Needless to mention that water transport is the cheapest mode of transport” he added. 
 
Giving details of major initiatives taken by the Government, Gadkari said new green field ports will be coming up at Vadhavan, near Dahanu in Maharashtra, Colachal near Kanyakumari in Tamilnadu and Sagar Island in West Bengal, entailing an investment of Rs 20,157 crores. 
 
He said port modernization programmes, hinterland connectivity and multi-modal logistics also offer huge investment opportunities. The Shipping Ministry has also identified two marine clusters at Saurashtra in Gujarat and Ennore, Tamilnadu for ship building, ship repair and recycling. 
 
Similarly coastal steel clusters are planned at Southern Maharashtra and Northern Tamilnadu. Gadkari said the development of 111 inland waterways also offers huge investment opportunities in the fields of dredging, fairway development and terminal construction. 
 
Secretary, Shipping Rajive Kumar said the Maritime India Summit in Mumbai will be inaugurated by the Prime Minister on April 14th which will be followed by Investors Summit, panel discussions, B2B and G2B meetings. South Korea is the partner country of the Summit. Delegates from 57 countries are expected to attend the summit. 
 
“The Summit will showcase latest technologies, products and services as well as help disseminate knowledge about the latest development in Maritime Sector. It will provide a platform to interact closely with leading global Maritime organisations to explore business opportunities and create awareness about opportunities in India” Kumar added. 
 
The Venue of the Maritime India Summit is the Bombay Convention & Exhibition Centre, Goregaon (East). 
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Shipbuilding

Keel Laying for Russia's Second Nuclear Icebreaker

Today the Baltic Shipyard in St Petersburg (part of United Shipbuilding Corporation) laid the keel of Ural, Project 22220’s second series-produced nuclear icebreaker.

Russia: 6th Yasen-Class Nuclear Sub

Russia's sixth Yasen-class nuclear submarine will be laid down at the Sevmash ship-building company in the city of Severodvinsk on July 29, reports RIA Novosti.

NASSCO Delivers Garden State to APT

Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers.

Ports

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

Ship Hits Panama Canal

The Panama Canal authority  (ACP) says a Chinese container ship’s damaging scrape with the canal’s new wider locks was caused by bad weather, Reuter quotes  ACP's  administrator, Jorge Quijano.

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

Marine Power

Staying Afloat Down Under?

In recent years, Australia has been a major growth area for offshore gas production and a key driver of offshore CAPEX, says Clarksons Research.   However, the

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

BMT to Lead Repower for Historic USCG Eagle

BMT Designers & Planners, a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, is leading the effort to repower the historic U.

Government Update

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

China Asks U.S. to Support Resumption of Talks with Philippines

China's foreign minister has asked the U.S. secretary of state John Kerry to support the resumption of talks between China and the Philippines over the South China Sea,

 
 
Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1633 sec (6 req/sec)