Over 70 MoUs inked worth over billions of dollars

The Global Maritime India Summit (GMIS), 2023, one of the biggest maritime summits in the world, recorded huge investments over the 3 day summit. 

At the inaugural session the summit saw Prime Minister Narendra Modi lay foundation stones for 21 projects worth Rs 18,800 crores with 34 MoUs worth Rs 3.24 lakh crore. 

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. 

PM Modi also launched Maritime Amrit Kaal Vision 2047 – a roadmap for maritime sector development for the next 25 years, the Amrit Kaal to make India Atmanirbhar by 2047.

At the roundtable on Global Economic Corridors, as many as 60 representatives from various countries attended, which included CEOs from 33 international companies and 17 Indian companies.

The inaugural session also witnessed 10 ministers from different countries joined the Union Minister Sarbananda Sonowal on the dais at the event. 21 ministers from 10 countries participated in various sessions at the GMIS, 2023. 

Similarly the second day recorded an investment of Rs 2.37 lakh crores.

As many as 70 Memorandum of Understanding (MoU) were signed in the various industries of maritime sector such as Port Development and modernisation, green hydrogen & ammonia, port led development, business & commerce, ship building, knowledge sharing & Port connectivity during the day. 

Addressing the gathering Union Minister, Sarbananda Sonowal, “The Global Maritime India Summit, 2023 has ushered a new age in sustainable development of the country with a record number of 70 MoUs with an investment of Rs 2.37 lakh crores. 

The maritime sector is playing an instrumental role as it has paved the way for India set sail towards Green Sustainability Transportation. 

India has scaled new heights to become fifth largest economy in the world. 

Now, Mr. Modi  has given us another target to further scale the growth story of India. To achieve, GMIS plays a pivotal role and I am happy to share the mammoth of exchange of ideas as well as understandings with clear vision to make India a developed country by 2047.”

The Union Minister Sarbananda Sonowal also held Ministerial level bilateral meetings with Ministers from Italy, Tanzania and Sri Lanka. Various countries agreed to enhance maritime cooperation on identified industries in order to build on the robust maritime relationship between the two countries. 

Mr.Shripad Yesso Naik, Minister of State for Ports, Shipping and Waterways and Tourism, Government of India highlighted the various measures and initiatives to promote cruise tourism during his session.

In a boost to ramp up maritime trade and commerce via National Waterways 2 (Brahmaputra), a Memorandum of Understanding (MoU) was signed between India Bangladesh Chamber of Commerce and Industry (IBCCI) and A to Z Exit.