Sea of Opportunities

Despite having a 7,500-km-long coastline, the modal share of India’s coastal and inland water transport is very low. The Maritime Amrit Kaal Vision 2047 aims to turn this around with an outlay of ₹80 lakh crore

- RICHA SHARMA

INDIA'S COASTS HAVE seen many eras when commerce and culture have blossomed over millennia. But maritime freight movement has dropped in recent years, even though this is the cheapest mode of transportation.

Aware of the vast potential here, the Union government has highlighted the blue economy as one of the 10 core motors of economic growth in its ‘Vision 2030’ document. There is also the Maritime Amrit Kaal Vision 2047, a subsidiary of the Amrit Kaal Vision 2047, that focusses on enhancing ports’ capacity and promoting inland water transport and coastal shipping with a proposed investment of ₹80 lakh crore.

By channelling technology, digitisation, and renewable energy, the government is looking to give ports a facelift and make them safe, smart, secure, and sustainable. There are proposals to increase the capacity of existing ports, develop new ones and maritime clusters, and enhance the efficiency of ports with the incorporation of the latest technology.

Through these measures, the government hopes to improve multi-modal connectivity at the ports and subsequently improve the modal share of coastal shipping and inland waterways.

LOGISTICS PUSH

Amit Tandon, CEO & Managing Director of supply chain and logistics provider Asia Shipping India, says the role of waterways in logistics services is projected to expand substantially over the next 25 years as the Indian government strives to position the country as a global leader in maritime innovation and growth.

He adds that the significance of the Maritime Amrit Kaal Vision 2047 is underscored by the monumental investment commitments witnessed during the Global Maritime India Summit 2023. Memoranda of Understanding (MoUs) worth about ₹10 lakh crore were inked, heralding a new era of port modernisation, green initiatives, and infrastructural development.