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India’s trade history, dating back to the dawn of the Indus Valley civilisation in 3500 BC, has always been linked to trade, particularly maritime commerce. The country’s strategic geographical location has made it a vital player in the global export of agricultural and forest products.
Fast-forwarding today, the Indian government’s ‘Maritime Amrit Kaal Vision 2047’ is an ambitious initiative that seeks to revolutionise the nation’s maritime sector, aiming to position India as a global maritime leader by 2047, in line with its goal of becoming a developed nation. The vision focuses on modernizing infrastructure, promoting sustainability, and enhancing India’s role in global maritime trade.
Key Objectives of Maritime Amrit Kaal Vision 2047:
- Port Modernisation and Infrastructure Expansion: Developing two new major mega ports, Vadhavan and Galathea Bay, and constructing deep-draft ports across various parts of the country.
- Promotion of Inland Water Transport and Coastal Shipping: Investing in the development of national waterways to facilitate the eco-friendly and efficient transportation of goods.
- Sustainable Maritime Practices: Implementing green technologies and alternative fuels in shipping, ensuring India’s maritime sector aligns with global environmental standards.
Recent Government Initiatives Supporting the Vision:
- Maritime Development Fund: The government has announced a ₹25,000 crore fund to provide long-term financing for the shipbuilding and repair industry. This fund is crucial for developing modern, efficient shipping infrastructure and bolstering India’s position in the global maritime market.
- Shipbuilding and Repair Policy: The government is formulating a new policy to incentivise Indian shipyards until 2035, aiming to enhance shipbuilding capabilities and make Indian shipyards globally competitive.
Expected Impact:
The implementation of these initiatives is expected to position India among the top five shipbuilding nations globally by 2047. With increased investments in shipbuilding and technology, India will rise to be a leading force in global shipbuilding and repair. Significantly enhance port capacity and efficiency, reducing turnaround times and improving logistics performance. This will lead to faster movement of goods, enhancing trade relations and reducing logistics costs.
It creates employment opportunities, stimulates economic growth, and establishes India as a key player in international maritime trade. These developments will contribute to job creation in various sectors, including shipbuilding, port management, logistics, and shipping, boosting India’s economic output.
By strategically investing in infrastructure, embracing sustainable practices, and fostering technological advancements, the Maritime Amrit Kaal Vision 2047 sets a course for India to become a maritime powerhouse, contributing significantly to the nation’s economic development and global trade dynamics. India is poised to become a global leader in maritime trade, and the steps taken today will ensure that the country plays a central role in shaping global maritime operations. By 2047, India will not only be a leader in trade but also a key influencer in the global maritime landscape, marking its journey toward becoming a developed nation with a thriving, sustainable maritime sector.
