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Govt to mobilise Rs 10 lakh crore investment under Sagarmala

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Union Government to mobilise Rs. 10 crore investment under Ambitious Sagarmala Project, the mobilization includes 4 crore in the Infrastructure alone.This ambitious project is important as Maritime logistics is a key component in Indian Economy, Accounting 90 % ExportImport trade by Volume and 72% of Trade by Value.

Sagar Mala project

  • The project identified 150 projects under its belt, of the 150 projects emphasizing Ports modernization and community Development projects.

India’s Maritime Advantages:

  • India endowed with natural coastal line of 7500 km that sprawl over 13 states and Union Territories.
  • India is one of the Largest Peninsulas in the World and catered by 13 major ports 200 minor ports.
  • About 18 % of Indian population lives in 72 Coastal districts.

Sagar Mala Project:

  • Sagar Mala is an initiative to Modernize Indian Ports and Islands, in March 2015 it has got principal approval from Cabinet and launched under Ministry of Shipping.
  • The project envisages development of 12 major Ports as well as 1, 208 Islands identified for Development as part of the project.
  • Sagar Mala could mobilize investment of 4 lakh crore in Indian infrastructure Sector in the next ten years.