Prime Minister Narendra Modi virtually inaugurated the 3rd edition of the Global Maritime India Summit (GMIS) 2023 held form October 17 to 19, 2023 at the MMRDA Grounds in Mumbai.
During the event, the Prime Minister unveiled “Amrit Kaal Vision 2047—blueprint for Indian Maritime blue economy.” This visionary blueprint sets the stage for various maritime projects worth over Rs 23,000 crores.
Hosted by: Ministry of Ports, Shipping, and Waterways and draws participants from over 70 countries.
- Ministry of Ports, Shipping and Waterways
- Indian Ports Association
- Federation of Indian Chambers of Commerce and Industry (FICCI)
i.PM Modi laid the foundation for multiple projects, aiming to unlock ₹80 lakh crores of investment for maritime sector development.
ii.PM Modi underlined the government’s vision of ‘Ports for Prosperity and Ports for Progress.’ He emphasized the concept of ‘Ports for Productivity‘ and highlighted the efforts to make the logistics sector more efficient, modernize coastal shipping modes, and strengthen India’s coastal infrastructure through the SagarMala Project.
iii.PM Modi mentioned the world’s longest river cruise service, international cruise terminals in Mumbai, Visakhapatnam, and Chennai, and the construction of a National Maritime Heritage Complex in Lothal near Mumbai.
iv.Union Minister Piyush Goyal acknowledged the efforts to enhance India’s EXIM trade capacity, resulting in over $450 billion of trade in 2022-23.
v.Sarbananda Sonowal held bilateral meetings with ministers from Italy, Tanzania, and Sri Lanka, focusing on enhancing maritime cooperation.
Key Attendees: Besides Modi and Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the summit was also attended by Maharashtra Governor Ramesh Bais, Maharashtra Chief Minister Eknath Shinde, the two ministers of state in the Ministry of Ports, Shipping and Waterways (MoPSW) — Sripad Naik and Shantanu Thakur, officials from the MoPSW, and other stakeholders.
GMIS sees Rs 10 Lakh Crore Investments and 360 MoUs, Featuring 34 Deals Valued at Rs 3.24 Lakh Crore on Day 1
The GMIS 2023 saw the signing of 360 Memoranda of Understanding (MoUs) with investment commitments totaling ₹8.35 lakh crores. Additionally, there were announcements of investible projects worth ₹1.68 lakh crores
Govt has said that as many 34 agreements worth Rs 3.24 lakh crore have been signed on the first day of the three-day GMIS 2023.
i.The rise of ‘smart ports’ will revolutionize logistics through digitization and innovative models.
- These ‘smart ports’ will utilise data, automation, IoT, and advanced analytics for safer, efficient resource management
ii.Initiatives like ‘Digital India‘ highlight our dedication to unlocking economic growth via digitization.
- Propose a digital centre of excellence (DCoE) for major ports, encouraging collaboration and cybersecurity focus”.
iii.“Harit Sagar” – the green port guidelines leads us to zero waste discharge, with an emphasis on reduce, reuse, repurpose, and recycle principles.
iv.Initiatives have been taken towards interconnecting major ports by 2030.
v.Unified Logistics Interface Platform (ULIP) and drone-based security reinforces the government’s commitment to modernizing port operations.
vi.The session further highlighted the integration of 5G technology in the Indian maritime sector.
PM Modi inaugurates 21 projects worth Rs 18,800 crore at GMIS 2023
The summit’s inaugural day witnessed the laying of the foundation stones for 21 projects worth INR18,800 crores.
These projects include:
- The Haridaspur-Paradip Rail Line, a project worth Rs 3,200 crore, aimed at reducing congestion and benefiting the people of Kendrapara.
- The fifth oil berth at the Marine Oil Terminal in Jawahar Dweep, a project worth Rs 1,046 crore, designed to improve ship turnaround time and accommodate larger vessels.
- The development of a special economic zone at the Jawaharlal Nehru Port Authority (JNPA) with a value of Rs 565 crore. With an additional investment of Rs 4,000 crore, the project is expected to create 57,000 direct jobs.
- A fourth container terminal at the JNPA, costing Rs 3,196 crore, aimed at enhancing container cargo facilitation and reducing congestion.
- The deepening and optimization of inner harbor facilities, including the development of the Western Deck at the Paradip Port Authority, with an investment of Rs 3,004 crore.
- The conversion of the ninth berth into a container terminal at the V.O. Chidambaranar Port Trust, worth Rs 434 crore.
- The rejuvenation of Khidderpore Docks (Dock 1-West) at the Syama Prasad Mukherjee Port Authority (SMPA), with an investment of Rs 181 crore.
- The construction of a new navigation lock gate at Farakka, West Bengal, undertaken by the Inland Waterways Authority of India, at a cost of Rs 375 crore.
GMIS records major investment of Rs 2.37 lakh crore on Day 2
On the second day of the GMIS 2023 in Mumbai, a significant investment of ₹2.37 lakh crore was recorded.
i.The day saw the signing of nearly 70 MoUs covering various sectors within the maritime industry.
ii.These included port development, green hydrogen, ammonia, port-led development, business, commerce, shipbuilding, knowledge sharing, and port connectivity.
iii.One MoU was signed between the India Bangladesh Chamber of Commerce and Industry (IBCCI) and A to Z Exit, exploring cargo transportation possibilities between India’s Northeast region and Bangladesh.
JNPA signs ₹20,000 crore MoU with DP World for Vadhvan Port development
DP World, a global logistics operator, and the Jawaharlal Nehru Port Authority (JNPA) signed a significant MoU valued at ₹20,000 crore and is intended for the development of the Vadhvan port, a highly anticipated project located north of Mumbai along the Arabian coast.
- This port’s strategic location offers proximity to Mumbai and Gujarat, making it an attractive trade gateway with excellent connectivity to northern and central India through the national railway network and NH8.
i.The Vadhvan port is considered a massive project and aims to handle nearly 24 million TEUs (twenty-foot equivalent units), ranking it among the top 10 ports globally.
ii.Building the Vadhvan port presents challenges, particularly due to the construction of a 10.2-kilometer-long breakwater.
- The project will be a joint effort between JNPA and the Maharashtra Maritime Board, with respective shareholdings of 74% and 26%.
iii.Additionally, DP World signed MoUs worth over ₹40,000 crore with JM Baxi and International Seaport Dredging Private Limited of Belgium for the development of other terminals at the Vadhvan port.
- DP World currently operates 5 container terminals in India with a combined capacity of approximately 6 million TEUs.
iv.PM Modi also laid the foundation stone for the Tuna Tekra all-weather deep draft terminal, a project set to cost more than Rs 4,500 crore at the Deendayal Port Authority in Gujarat.
- This state-of-the-art greenfield terminal will be developed in PPP mode.
- The terminal will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs) and will act as a gateway for Indian trade via the India-Middle East-Europe Economic Corridor (IMEEC).
- It will have an annual capacity of 2.19 million TEUs, which will further increase DP World’s combined capacity in India to 8.19 million TEUs.
Chairman of JNPA: Sanjay Sethi
TCI Group Honored as Maritime Excellence Achiever at GMIS 2023 by Ministry of Ports, Shipping & Waterways
The Transport Corporation of India Ltd. (TCI Group) was honored with the prestigious Maritime Excellence Award in the ‘Shipping – Promoting Multimodality‘ category during GMIS 2023, an event presented by the Ministry of Ports, Shipping & Waterways on October 19, 2023.
- This recognition underscores TCI’s commitment to delivering world-class, end-to-end integrated logistics and supply chain solutions in the Indian Maritime Industry.
About TCI Group:
TCI Group, with revenues exceeding Rs. 6200 Crores, is India’s leading integrated supply chain and logistics solutions provider. TCI Group’s product offerings include TCI Freight, TCI Seaways, TCI Supply Chain Solutions, TCI Chemical Logistics Solutions, TCI Cold Chain Solutions Ltd., TCI CONCOR Multimodal Solutions Pvt. Ltd., Transystem Logistics International Pvt. Ltd., TCI Express Ltd, TCI Developers Ltd, TCI Foundation, and TCI Institute of Logistics.
MD of TCI: Vineet Agarwal
NMPA Inks Seven MoUs Worth Rs 8,347 Crore
The New Mangalore Port Authority (NMPA) entered into 7 MoUs with a total value of Rs. 8,347 crores.
i.2 MoUs with Mangalore Refinery and Petrochemicals (MRPL), totaling 6500 crores
- Rs. 5,000 crore, focusing on port-based infrastructure to support business development.
- Rs. 1,500 crore for the expansion and addition of new capacities to the desalination plant.
ii.4 MoUs totaling Rs. 1,800 crore were exchanged with various stakeholders
- Including Hindustan Petroleum Corporation (HPCL)
- Indian Oil Corporation (IOCL)
- Karnataka Maritime Board (KMB)
- Sealord Containers (SCL) under the banner of Port-led Industrialization.
iv.1 MoU with the Public Health Preparedness Clinic (PHPC) to establish tank farms and storage infrastructure at a cost of Rs. 47 crore.
Chairman of NMPA: Dr. A. V. Ramana
FinMin Nirmala Sitharaman Leads ‘Maritime Financing, Insurance, and Arbitration’ Session
Finance Minister Nirmala Sitharaman chaired a session on ‘Maritime Financing, Insurance, and Arbitration‘ during the GMIS 2023 in Mumbai.
i.FM Sitharaman highlighted India-Middle East-Europe Economic Corridor as a crucial maritime route to reach Europe, aimed at reducing logistics costs.
ii.“Marine Cargo Pool” was established with support from IRDAI and domestic insurers, along with the General Insurance Corporation of India Limited (GIC Re), to support maritime trade.
iii.Arbitration and Indian P&I Entity: This entity would serve several purposes, including reducing India’s vulnerability to international sanctions, protecting liabilities of ships in coastal and inland waters, and promoting maritime arbitration in India.
iv.An Expert committee was formed to streamline infrastructure understanding among financing and regulatory institutions, focusing on categorizing relevant sectors as infrastructure in the Harmonized Master List (HML).
v.31 projects in 9 major ports were identified for monetization under National Monetisation Pipeline (NMP), with an estimated capex of Rs 14,483 crore for FY 2022-25.
vi.An alternative dispute resolution (ADR) mechanism, known as ‘SAROD-Ports’ (Society for Affordable Redressal of Disputes – Ports), was introduced.
vii.FM Sitharaman highlighted India’s improved ranking in the Global Ranking of International Shipments from 44th in 2014 to 22nd in 2023.
viii.The establishment of an International Arbitration Centre (IAC) in GIFT City was highlighted, aiming to provide a faster dispute resolution process.
Related Notes: i.The first Maritime India summit was held in 2016 in Mumbai while the Second Maritime Summit was held virtually in 2021
ii.With a vast coastline of more than 7,500 km, India is among the largest maritime countries in the world.
iii.95% of India’s foreign trade and 70% its total trade in terms of value takes place through seaways.
iv.India is home to 12 major ports, over 200 other ports, 30 shipyards and a comprehensive hub of diverse maritime service providers.
About Ministry of Ports, Shipping, and Waterways:
Union Minister – Sarbananda Sonowal, (Rajya Sabha Constituency – Assam)
Minister of State (MoS) – Shripad Yesso Naik; Shantanu Thakur