India Looks For Global Maritime Investments Before Industry Summit

New Delhi, Aug 23 (KNN) Union Minister for Ports, Shipping & Waterways Sarbananda Sonowal has invited investors to participate in various industries of India’s growing Maritime sector.

This statement comes ahead of the Global Maritime India Summit (GMIS) 2023 which is will be held from October 17-19.

Opportunities span from cruise tourism to shipbuilding and maritime education, offering international partners a multifaceted spectrum of avenues for collaboration, he said.

He asked Indian ambassadors from the east and west zones to explore investment prospects in the domestic maritime sector.

“With a potential investment exceeding Rs 10 lakh crore (USD 12,000 million), we have the capacity to propel economic transformation within our borders and resonate on a global scale. Recognizing the pivotal role of robust international trade relations in our economic growth, we are actively pursuing initiatives to foster global collaboration within the maritime sector,” he said.

India has already inked bilateral agreements and Memoranda of Understanding (MoUs) with 34 countries on maritime transport and cooperation, alongside MoUs regarding the recognition of certificates of seafarers with 40 nations, he said.  (KNN Bureau)