PM dedicates Vizhinjam seaport to nation, says it will reduce reliance on foreign ports

(UNI) Prime Minister Narendra Modi on Friday inaugurated the Rs 8,900 crore Vizhinjam International Seaport in Kerala -- India's first mega transshipment container terminal that will significantly strengthen India's position in global trade, sharpen logistics efficiency and cut down reliance on foreign ports.

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The seaport is a significant advancement in India's maritime infrastructure," Modi said while dedicating the seaport to the nation. "India's coastal states and our port cities will become key centres of growth for a Viksit Bharat," the PM said.

The Prime Minister remarked that the capacity of the transshipment hub will triple in the coming years, enabling the smooth arrival of some of the world's largest cargo ships.

He pointed out that 75% of India’s transshipment operations were previously conducted at foreign ports, leading to significant revenue loss for the country.

Emphasizing that this situation is now set to change, he asserted that India’s money will now serve India and the funds that once flowed outside the country will now generate new economic opportunities for Kerala and Vizhinjam’s people.

Modi remarked that before the colonial rule, India witnessed centuries of prosperity, emphasising that at one point, India held a major share in the global GDP.

He highlighted that what set India apart from other nations during that era was its maritime capacity and the economic activity of its port cities.

Noting that Kerala played a significant role in this maritime strength and economic growth, he highlighted Kerala's historical role in maritime trade, emphasizing that through the Arabian Sea, India maintained trade links with multiple nations.

He noted that ships from Kerala carried goods to various countries, making it a vital hub for global commerce. "Today, the Government of India is committed to further strengthening this channel of economic power", he added and asserted, “India’s coastal states and port cities will become key centers for the growth of a developed India”.