Union Shipping Minister Sarbananda Sonowal revealed plans for India to build the biggest port in the world during the India Economic Summit (IES) 2024.
He said that the Sagarmala Program, a showpiece project that has accelerated growth along the nation’s coasts, is a crucial component of this change.
“To develop our projects, we are collaborating with private players and coastal states,” Sonowal stated, pointing out that modernization and digitization have made projects from Gujarat to Bengal successful.
Global measures show that this progress has been made. A recent World Bank performance index study, which Sonowal quoted, revealed that India’s standing had improved considerably, with container turnaround times falling from 44 to 22 hours. He went on to say, “Our growth is exemplary.”
Speaking about India’s 2.4% present share of the world’s container traffic, Sonowal underlined efforts to boost domestic container production in order to satisfy demand. He promised that during the next 25 years, India hopes to be among the top 10 maritime nations in the world and that “in the coming days, our country will begin producing containers locally.”
Sonowal also presented a daring plan for India’s shipbuilding sector, aiming to rank in the top five worldwide within the next ten years. He added that India has made significant investments in its maritime sector and that it will start building ports in Sri Lanka. “By 2047, we plan an investment of 80 lakh crore in the ship industry,” he remarked, emphasizing that “India is about to grow in all maritime sectors.”
He stated that the Indian economy would benefit greatly from the “network we are building to handle 300 metric tonnes of containers annually.”
He added that partnerships with nations like Russia and Iran are opening the door to more connectivity and trade.
“With the Indo-Myanmar Friendship Port and plans for additional ports in Sri Lanka, India is strengthening its position in regional and global maritime networks,” he stated in reference to the unstable situation in Bangladesh and Myanmar. He reaffirmed the commitment of both nations to uphold the connections.
Sonowal underlined that rivers, ports, and shipping are generating employment possibilities throughout India. “This ministry plays a crucial role in supporting India’s rapidly expanding economy from bottom up,” he stated.
In response to a question concerning development in the Northeast, Sonowal talked about recent efforts to promote trade along the Brahmaputra River, including the construction of cargo and crew ports. “This terminal will offer infrastructure opportunities and boost tourism.” He claimed that the Northeast today has the best chance for prosperity, attributing this to PM Modi’s dedication to regional development.
He reaffirmed his dedication to India’s maritime advancement in his closing remarks. “We have to demonstrate to the world that India’s waterways can support its prosperity. Our waterways need to be kept clean.
