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 % Export– Import trade by Volume and 72% of Trade by Value.
- 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.