The virtual interaction saw participation from more than 45 Indian missions.
Deliberating on the growth prospects of Indian maritime industry, the Minister of Ports, Shipping & Waterways, Shri Sarbananda Sonowal extended a warm invitation to all the Indian Ambassadors from the East and the West Zones to explore the investment opportunities in the domestic maritime sector.
The meeting saw a remarkable display of collaboration and commitment to maritime excellence with participation from more than 45 Indian missions including USA, UK, France, Canada, Singapore, Russia, UAE, Australia, Korea, Spain, Sweden, Switzerland, Denmark, Netherlands, Brazil etc. to name a few. Indian missions from the Commonwealth of Independent States, BIMSTEC, Middle east, Gulf and other neighbouring countries on eastern side were also present.
Shri Sonowal alluded to the upcoming Global Maritime India Summit (GMIS) 2023 and urged ambassadors to leverage their positions to drive participation from respective governments and corporates in various countries across the globe. Highlighting India's emergence as the 5th largest economy in terms of GDP and the 3rd largest in purchasing power parity, Shri Sonowal outlined that the nation's progress in the maritime domain, characterised by a commitment to 100% Foreign Direct Investment through automatic routes.
“With a potential investment of more than INR 10 lakh crore (US$12,000 million), we can drive economic transformation that resonates within our borders and reverberates globally. We recognize the importance of robust international trade relations for its economic growth and are taking various initiatives to enhance global cooperation on the maritime front” the Minister noted.
The emphasis on the blue economy was visible as the Minister invited investors to participate in diverse industries, creating an expansive canvas for growth. From cruise tourism to shipbuilding and maritime education, the vision encompasses multiple domains that present opportunities for international collaboration.
Reflecting on the collaboration potential, Shri Sonowal concluded, “India has already entered bilateral agreement & MoUs with 34 countries on maritime transport & cooperation and signed MoUs on recognition of certificates of seafarers with 40 countries. We have also been an active participant in various multinational maritime forums for equitable and sustainable development. Through your support, we shall attain mutual growth and reap the rewards, cultivating a legacy of collaboration, innovation, and prosperity”
Shri T K Ramachandran, Secretary, Ministry of Ports, Shipping & Waterways discussed the goals of the upcoming Global Maritime India Summit (GMIS) during his introductory remarks. He underlined the global aspect, emphasising three key elements: advancements in ports and interior waterways, partnerships with foreign businesses for technology and project execution, and the unique trade requirements of many nations.
Additionally, Shri Periasamy Kumaran, Additional Secretary (ER & DPA), Ministry of External Affairs provided an overview of the transformative phase in India's ports and shipping, focusing on potential for domestic and foreign investment. He went on to discuss how Indian missions aid in business networking and matchmaking, encouraging participants to find possible investors and partners, promote conversations, and serve as information hubs for the sector.