The Global Maritime India Summit (GMIS) 2023, one of the largest maritime summits, saw proposed investment of around Rs 10 lakh crore during the three day event.

The government of India says with this feat, the third edition of the GMIS made a significant stride towards achievement of ‘Amrit Kaal Vision 2047’ of Rs 80 trillion investment – a vision document shared by Prime Minister Narendra Modi for the development of maritime sector by 2047.

Sarbananda Sonowal, Union Minister of Ports, Shipping & Waterways and Ayush said, “With the record number of MoUs signed among the stakeholders, the summit has unrolled the trajectory for India to become a global maritime hub. We would like to extend our gratitude to the 10 partner countries, more than 50 partner countries, all the stakeholders, delegates who established a connection during this summit to collaborate on identified areas for cooperation and create future proof solutions.”

The global summit witnessed participation from more than countries, 215 international and national speakers and 50,000 physical and virtual attendees. Building upon the legacy of its preceding editions, the third meet unveiled broader prospects for domestic and international maritime stakeholders.

“Establishing Digital Centre of Excellence for Maritime Efficiency (COEME) is one of the many initiatives that displays Modi government’s commitment towards technological advancement – both towards indigenous and collaborative development. In line with this, harnessing the potential of India’s maritime start up ecosystem would be a key focus area for our government,” added Sonowal.

The summit also saw discussion about sustainable development with green ports and shipping, an area in which Norway and other leading maritime nations are defining best practises and setting standards that the rest of the world should follow.

“India, for example, plans to develop carbon neutrality among other globally trending areas on reduction of GHG emissions with the use of green fuels, electrified/renewable energy-based yard equipment, vehicles”, said Sonowal.

The Union Minister of Education and Skill Development & Entrepreneurship, Dharmendra Pradhan emphasised on the need for providing seafarers with a more supportive and more comfortable working environment evolved in the post-pandemic era.

Earlier, the Prime Minister Narendra Modi inaugurated the GMIS 2023 laying the foundation stones for 21 projects worth Rs 18,800 crore with 34 MoUs worth Rs 3.24 lakh crore was inked during the Inaugural session. This included Green Projects having share of Rs 1.8 lakh crore and Projects of Port Development and Modernisation worth Rs 1.1 lakh crore.