Recently, the Global Maritime India Summit 2023 is inaugurated by Prime Minister in Mumbai to building business, forging partnerships, creating opportunities for emerging as global leader for blue economy.
Mantra for Global Maritime India Summit 2023
‘Make in India – Make for the world’
About the Global Maritime India Summit 2023
- The Global Maritime India Summit 2023 is a highly anticipated event in the maritime sector.
- It aims to bring together key figures from the industry to explore opportunities, address challenges and promote investment in India’s maritime sector.
- This third edition of the summit builds upon the success of its previous iterations and seeks to uncover wider prospects for both domestic and international stakeholders and investors.
- The summit will feature the participation of Ministers from various countries spanning Europe, Africa, South America, Asia (including central Asia, the Middle East, and the BIMSTEC region).
- Additionally, prominent Global CEOs, business leaders, investors, officials, and stakeholders from around the world will also be in attendance.
- Notably, several Indian states will be represented by their respective Ministers and dignitaries at the Global Maritime India Summit 2023.
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- Prime Minister of India inaugurated the Global Maritime India Summit 2023 through a video conference held in Mumbai.
- During the event, he introduced ‘Amrit Kaal Vision 2047,’ which outlines India’s plans for its maritime blue economy.
- Additionally, he laid the foundation for projects worth more than Rs. 23,000 crores that align with this vision.
- Prime Minister stressed the significance of India’s maritime capabilities in global trade and provided an overview of the government’s initiatives to bolster the sector.
- The Global Maritime India Summit 2023 serves as a platform to attract investments in India’s maritime industry, with a focus on promoting port development, sustainability, and fostering international collaborations.
- Prime Minister extended an invitation to global investors to contribute to India’s progress as it aspires to become a developed nation by 2047.
- The event witnessed the participation of ministers and stakeholders from various countries, engaging in discussions on diverse aspects of the maritime sector.
Analysis of Global Maritime India Summit 2023
Opportunities in Maritime Sector
- India’s maritime sector has played a significant role in driving our nation’s economic growth.
- Over the years, the opportunities within the Indian maritime sector have expanded, positioning India to potentially become a leader in the global blue economy.
- In order to achieve this, it is crucial to embrace technological advancements, improve infrastructure, enhance efficiency, and cultivate a favourable business environment.
- Additionally, the implementation of various programs and reform initiatives has been pivotal in increasing port capacity, promoting port-led industrialization, improving coastal shipping, revitalizing inland waterways and fostering self-reliance or Atmanirbhar in shipbuilding, repair, and recycling within India.
Benefits of Global Maritime India Summit 2023
- The platform will showcase global best practices, promote investment partnerships, and set a positive direction for our collective future.
- Furthermore, it will serve as a global catalyst for investment, collaboration, innovation, and the promotion of opportunities in India’s maritime sector.
- The Sagarmala initiative has played a leading role in India’s infrastructure growth, strategically advancing trade and logistics, and establishing our nation as a maritime leader.
- Through its comprehensive approach, the Sagarmala project has strengthened port modernization, improved port connectivity, and facilitated the development of port-led industrial clusters.
- India aims to enhance infrastructure development, improve logistical competitiveness, promote industrialization, generate employment opportunities, and bolster the coastal economy.
- This strategic alignment has positioned India as a preferred global trade partner, attracting investment and driving economic growth.
- The achievements of the Sagarmala program are a testament to its success and its impact on India’s maritime landscape.
Future Prospects
- The GMIS 2023 marks a significant turning point for the Indian maritime sector, presenting a chance for India to establish itself as a leader on the global stage.
- India holds immense potential to become a prominent maritime hub, fuelling economic growth, generating employment prospects, and solidifying our position as a major player in international trade.
- The opportunities that lie ahead for India are extensive and varied. To realize these opportunities, it is imperative for India to foster collaboration, embrace innovation, and harness the power of technology.
- It is crucial to prioritize the development of robust infrastructure, invest in skill enhancement, and create a favourable environment that promotes entrepreneurship and attracts investment.
To sum up, it can be mentioned that GMIS 2023 is a premier maritime sector event that will bring together key players to examine potential, comprehend obstacles, and encourage investment in India’s marine sector. This third instalment, which builds on the success of its predecessors, intends to reveal wider potential for domestic and foreign marine players and investors.
Source: GOI
