Oceans are not barriers but bridges to a better future: Puri

Union Minister Hardeep Singh puri, stating that the oceans are not barriers but the bridges to a better future, said the country is modernizing ports and taking initiatives for building an inclusive and future ready maritime economy. The country is ready to work with global partners to make the maritime sector a strong driver of a developed and self-reliant India.

Speaking at the India Maritime Week on Wednesday, Puri said that the maritime sector is poised to attract Rs 8 trillion of investment and also going to create 1.5 crore new jobs by 2047.

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According to Puri, the country is playing a key role in shaping global trade routes through initiatives like the India-Middle East-Europe Economic Corridor and the International North-South Transport Corridor, linking Indian ports with Europe, Central Asia, and Africa.

He said that the country’s economy is growing fast, with the GDP now around 4.3 trillion dollars. Nearly half of this comes from the external sector, which includes exports, imports, and remittances showing how important trade and shipping is for the country’s economic progress.

The Union minister pointed out that under Prime Minister Narendra Modi’s leadership, the country’s maritime sector has seen major changes over the past eleven years. The port capacity has increased from 872 million metric tons per annum in 2014 to 1,681 million metric tons in the present day, while cargo volumes have gone up from 581 million tons to about 855 million tons.

He further said that efficiency has also improved with turnaround time reduced by 48 percent and idle time cut by 29 per cent.

Throwing light on the Sagarmala Programme, he said it has already mobilized projects worth over Rs 5.5 lakh crore to modernize ports and connect coastal regions.

Puri said that country’s shipyards like the Cochin Shipyard, Mazagon Dock, GRSE Kolkata, HSL Visakhapatnam, and private yards in Goa and Gujarat are now building world-class vessels, and with partnerships like Cochin Shipyard with L&T and Daewoo for LNG and ethane carriers, and collaborations with Mitsui OSK Lines, are helping bring global technology into the country.

He also mentioned that presently, 12 per cent of the world’s seafarers are from India, which reflects unmatched maritime human-capital strength.