INDIA'S COASTS HAVE seen many eras when commerce and culture have blossomed over millennia. But maritime freight movement has dropped in recent years, even though this is the cheapest mode of transportation.
Aware of the vast potential here, the Union government has highlighted the blue economy as one of the 10 core motors of economic growth in its ‘Vision 2030’ document. There is also the Maritime Amrit Kaal Vision 2047, a subsidiary of the Amrit Kaal Vision 2047, that focusses on enhancing ports’ capacity and promoting inland water transport and coastal shipping with a proposed investment of ₹80 lakh crore.
By channelling technology, digitisation, and renewable energy, the government is looking to give ports a facelift and make them safe, smart, secure, and sustainable. There are proposals to increase the capacity of existing ports, develop new ones and maritime clusters, and enhance the efficiency of ports with the incorporation of the latest technology.
Through these measures, the government hopes to improve multi-modal connectivity at the ports and subsequently improve the modal share of coastal shipping and inland waterways.
LOGISTICS PUSH
Amit Tandon, CEO & Managing Director of supply chain and logistics provider Asia Shipping India, says the role of waterways in logistics services is projected to expand substantially over the next 25 years as the Indian government strives to position the country as a global leader in maritime innovation and growth.
He adds that the significance of the Maritime Amrit Kaal Vision 2047 is underscored by the monumental investment commitments witnessed during the Global Maritime India Summit 2023. Memoranda of Understanding (MoUs) worth about ₹10 lakh crore were inked, heralding a new era of port modernisation, green initiatives, and infrastructural development.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Look Before You Leap
In 2025, Investors Will Need To Factor In Volatility Across Asset Classes
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more
