The Union Minister of Ports, Shipping , Waterways and AYUSH, Sarbananda Sonowal said that the nation is forging ahead with "never before seen speed" and that under the Prime Minister Narendra Modi's Gati Shakti – National Master Plan for multimodal connectivity, the Ministry has identified 101 projects worth Rs 62,227 crores for implementation by 2025.
He was speaking at the 24th edition of the Indian Merchants Chamber of Commerce and Industry’s flagship annual international conference "IMC INDIA CALLING CONFERENCE 2023" on Saturday, 29 April in Mumbai, India's financial and entertainment capital.
The theme of the 2023 Conference was "Rising India- Inviting Partnership for Growth".
In his address, the Union Minister elaborated that 26 projects worth Rs. 8897 crore have been completed, 42 projects amounting 15,343 crore are under development and 33 projects worth Rs 36638 crore are under implementation. From these, 14 projects worth Rs 20,537 crore are expected to be completed by December this year, he said.
The Union Minister further said that from the Gati Shakti projects, 12 projects amounting 9867 Crores are being executed in Maharashtra, out of which three projects costing Rs. 3,165 crores have been completed. Two projects valued at Rs. 675 crores are under development while the remaining seven projects amounting to Rs. 6,027 crores are expected to be completed by 2025.
Speaking about green initiatives, the Shipping & Ports Minister said that as per the National Hydrogen Mission of the country, Green Hydrogen / Ammonia bunkers and refuelling facilities are to be established in all major ports by 2035. Deendayal, Paradip & V.O. Chidambaranar Ports are developing infrastructure for establishment of hydrogen bunkering, he said.
Elaborating on the progress of the Sagarmala Project, Mr Sonowal said there are 802 projects worth investment of Rs. 5.4 lakh crore awaiting implementation by 2035. 228 projects worth Rs. 1,21,545 xrore have been completed and 260 projects worth Rs. 2.36 lakh crore are under implementation. Further, 314 projects worth Rs. 2.11 lakh crore are under various stages of development. In the Maharashtra, there are 126 projects worth Rs. 1,13,285 crore under Sagarmala, he said. Out of these, 39 projects worth Rs 16,393 crore have been completed. 42 projects worth Rs 18,146 crore are under implementation and 45 projects worth Rs 78,746 crore are under development.
Mr. Piyush Goyal, Union Minister of Commerce & Industries; Textiles; Consumer Affairs and Food and Public Distribution addressed the inaugural session as Chief Guest.
Shipping Minister Sonowal had said India is now almost a three and a half trillion dollar economy".
Minister Goyal called for a $47 trillion economy by 2047 and underscored the global contributions of companies from smaller countries like the Czech Republic and Poland to the supply chains of large corporations. He regretted the Rs 88 thousand crores fuel wastage and
also highlighted the crucial role of Nari Shakti (women’s empowerment) and a corruption-free society in achieving a developed India.
Mr Nitin Gadkari Union Minister for Rosd Transport and Mrs Darshana Jardosh Union Minister of State for Railways and Textiles spoke about milestones in their respective areas.
Mr Gadkari said logistics cost in India is higher at 13% to 14% of GDP compared to 8% to 9% of GDP in other developed economies such as the USA. Higher logistics cost reduces the competitiveness of ‘Made in India’ products in global markets. Reducing logistics costs to 9% of GDP is at the top of Government’s agenda," he said.
The day-long Conference was addressed by Nadir B Godrej Chairman & MD Godrej Industries ( in poetry ) Mr Rajiv Jalota, Chairman Mumbai Port Authority, Mr Anant Singhania, President IMC, Mr Niraj Bajaj Chairman, Bajaj Auto & Mukand Ltd,Mr Frank-Jurgen Richter, Chairman, Horasis and former Director, World Economic Forum, Mr Mark Fernandes, Partner Sylvester and Company & Chairman IMC Shipping and Logistics Committee,
Mr Shashikiran Shetty, Chairman Allcargo Group, and Mr Dhruv Gadh, Partner - Maritime & Logistics, Price Waterhouse Coopers Plc, among a battery of experts.
Mr Shetty discussed "high logistics costs and very little tonnage in ports. "
Mr Fernandes said exim suffers "because handling costs are the highest in the world. " He also said that the 45 day wait in Mumbai port had decreased to 14 hours and "ship captains complained that as a result they don't get to see Mumbai city at all."
India has been consistently ranked as amongst the highest growing economies in the world and IMC established the Conference to provide a networking platform for Indian and global players to come together and debate, share insights and explore potential investment opportunities and collaborations.
Distinguished attendees included Mr Dilip Dandekar Chairman Kokuyo Camlin Ltd, Nanik Rupani, former IMC Presidents, Ajit Mangrulkar, Director General IMC and diplomats representing Canada, South Africa, China, Australia, Turkey, and Indonesia among others as well as leading Indian and international experts from industry and government who shared insights into development of markets in India, policy inputs and opportunities for companies to invest and collaborate in these areas.
Apart from the Gati Shakti – National Master Plan for multimodal connectivity,the Conference included discussions on opportunities in defence manufacturing, tourism, real estate and urban development.
This year’s Conference was also hosted on a 3D online platform for foreign delegates who joined virtually.
The IMC India Calling 2022 held on May 06, 2022 witnessed the virtual participation of over 800 delegates from India and 50 countries, including representatives from ministries, government agencies and diplomatic missions.
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