Capital Freeze
India’s investment slowdown is no longer a cyclical economic problem. It is becoming a structural crisis of confidence. For years, New Delhi has tried almost every orthodox tool available to revive private sector investment.
The Narendra Modi government is planning to invest Rs 5,000 crore to develop waterways and maritime sector in the Northeast region of the country, Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, announced on Monday.
Multiple initiatives are being taken by the government in this regard, the minister, according to an official statement issued here, said.
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“Under the visionary leadership of Prime Minister Narendra Modi, we have revitalised India’s maritime sector as never before. From historic growth in port capacity and cargo handling to pioneering green shipping, cruise tourism and skill development for our youth — these achievements reflect the Modi government’s unwavering commitment to make India a global maritime powerhouse and drive inclusive development across every coastal and riverine region,” he was quoted as saying in the statement.
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The government aims to train 50,000 youth from the region in maritime skills over the next decade, offering them assured employment opportunities in the growing sector.
The Maritime Skill Development Centre (MSDC) in Guwahati as well as the upcoming Centre of Excellence (CoE) in Dibrugarh aim to power this transformation. The CoE will be developed with an investment of Rs 200 crore. Both the centres are likely to produce 500 jobs annually, he claimed.
“PM Modi has always envisioned how ‘Yuva Shakti’ can bring about real transformation in the country. Our vision is to train, enable and empower 50,000 youth from the Northeast with world-class maritime skills over the next decade, ensuring meaningful employment and growth. Our centres in Guwahati and Dibrugarh will be the backbone of this transformation,” Sonowal added.
The Ministry has undertaken projects worth Rs 1,000 crore in the Northeast’s inland waterways sector over the past two years, with Rs 300 crore works completed and Rs 700 crore slated for completion by 2025.
The operationalization of Indo-Bangladesh Protocol Route (IBPR) offers new trade routes bypassing the Siliguri corridor, strengthening regional connectivity and aligning with the broader vision of ‘Atmanirbhar Bharat’, the minister said.
Responding to a query on the status of Kaladan Multimodal Transit Transport Project (KMTTP), Sonowal said, “Kaladan Multi-Modal Transit Transport Project is the result of India Myanmar Friendship Treaty. This is a strategic initiative to enhance connectivity between India’s Northeast and Myanmar — is set to be fully operational by 2027.
Over the past 11 years, the Ministry of Ports, Shipping and Waterways (MoPSW) has transformed India’s maritime sector with record growth in cargo handling, capacity and coastal shipping.
Major ports have nearly doubled their capacity, cruise tourism is rising with ambitious new terminals, and 50,000 youth from the Northeast will be trained for maritime jobs, the document said.
Key legislative and digital reforms, green shipping initiatives, and projects like the Kaladan Multi-Modal Transit Transport Project are strengthening regional connectivity and trade.
India’s ports are now globally competitive, with nine ranking in the World Bank’s top 100, and Visakhapatnam Port reach
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