PM Modi Invites Investors to Partner with India for India-Middle East-Europe Economic Corridor

Prime Minister Narendra Modi on Tuesday said the India-Middle East-Europe Economic Corridor has the potential to transform the global maritime trade, and invited investors to partner with the country to be a part of the initiative.

PM Unveils Amrit Kaal Vision 2047

Speaking at the inauguration of the third Global Maritime India Summit GIMS via a video-link, Modi said India was able to forge a historic consensus at the G20 for the IMEEC, and added that the initiative will prove to be a catalyst for prosperity, the same as Silk Route was a few centuries ago.

He also unveiled Amrit Kaal Vision 2047, a blueprint for the Indian maritime blue economy.

India To Develop Ship-Building And Repair Centres

Modi said his government has been working to strengthen the maritime sector in the last 9-10 years, and added that whenever India's maritime capabilities have been strong in history, the country and the world have benefitted from it.

Without specifying a timeline, Modi said the government will develop shipbuilding and repair centres across the country.

India To Become One Of Top Five Ship-Building Nations

India is going to become one of the top five ship-building nations in the coming decade. Our mantra is Make in India - Make for the world, the prime minister said.

Government Working To Bring Together All Stakeholders In The Sector

He said that the government is working to bring together all stakeholders in the sector through maritime clusters.

Coastal Shipping Modes Being Modernised

He underlined that coastal shipping Modes are also being modernised and said that the coastal cargo traffic has doubled in the last decade, thereby providing a cost-effective logistic option to the people.

Cargo Handling Of National Waterways Grew By Four Times

On the development of inland waterways in India, the prime minister said that cargo handling of national waterways grew by four times.

Modi said that as the Silk Route of the past changed the economy of many countries, this corridor too will transform the picture of global trade.

The PM said the world order is changing post-Covid and the entire world is looking towards India with new aspirations. He added that the domestic economy is continuously getting stronger to be the third largest.