Prime Minister Narendra Modi on Tuesday at the Maritime India Summit 2021 informed that India will invest USD 82 billion in port projects by 2035.
The government plans to raise share of clean renewable energy source in maritime sector. It also plans to develop waterways and boost tourism around lighthouses as part of port-led development.
PM Narendra Modi also invited global investors to invest in Indian ports, shipyards and waterways.
He 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 crores.
The Government of India is also focusing on the domestic shipbuilding and ship repair market. Government of India will be encouraging domestic shipbuilding. For this a Shipbuilding Financial Assistance Policy for Indian Shipyards has been approved.
PM Narendra during the speech added that the Government is keen to promote the use of renewable energy in the maritime sector. He said the government is in the process of installing solar and wind-based power systems at all the major ports across the country and aims to increase usage of renewable energy to more than 60 percent of total energy by 2030 in three phases across Indian ports.
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