'Let India Be Your Preferred Trade Destination': PM Modi Invites World To Be Part Of India's Growth Trajectory

Prime Minister Narendra Modi on Tuesday (2 March) invited the whole world to come to India and be a part of its growth trajectory considering its seriousness towards the maritime sector.

Addressing Maritime India Summit through video conferencing, Modi made the clarion call while expressing India's vision to turn up it as a leading Blue Economy of the world with its focus on the maritime sector.

"Through this Maritime India Summit, I want to invite the world to come to India and be a part of our growth trajectory. India is very serious about growing in the maritime sector and emerging as a leading Blue Economy of the world," the Prime Minister said after inaugurating the summit.

The Prime Minister further said that the summit will bring together key stakeholders from the maritime sector and play a leading role in furthering the growth of India's maritime economy.

PM Modi asserted that “Ours is a government that is investing in waterways in a way that was never seen before. Domestic waterways are found to be cost effective and environment friendly ways of transporting freight. We aim to operationalise 23 waterways by 2030", a PMO statement said on Tuesday (2 March).

He said that the government has recently widened the ambit of the maritime sector by renaming the Ministry of Shipping as Ministry of Ports, Shipping and Waterways so that work happens in a holistic manner. The government is also focusing on the domestic ship building and ship repair market. To encourage domestic shipbuilding approval has been given to the Shipbuilding Financial Assistance Policy for Indian Shipyards.

PM Modi informed that the Ministry of Port Shipping and Waterways has created a list of 400 investable projects. These projects have an investment potential of $31 billion or Rs 2.25 lakh crore.

Talking about the Maritime India Vision 2030, PM Modi said It outlines the priorities of the government.

PM Modi also exhorted the global investors to invest in India.

"India’s long coastline awaits you. India’s hardworking people await you. Invest in our ports. Invest in our people. Let India be your preferred trade destination. Let Indian ports be your port of call for trade and commerce,” PM Modi said.

(With inputs from IANS)