Govt to pump in Rs 80 lakh crore to revolutionise maritime sector by 2047: Sarbananda Sonowal

New Delhi, Nov. 19: Union Minister, Sarbananda Sonowal, on Monday said that the government is looking to revolutionise the maritime sector by 2047.

The Union Minister also added that an investment of Rs 80 lakh crore will be used to enhance port capacity, shipping, shipbuilding and inland waterways.

Speaking at the ‘Sagarmanthan - The Great Oceans Dialogue’, Sonowal said that key projects of the government include Vizhinjam International Seaport in Kerala, new mega ports at Vadhavan in Maharashtra, and Galathea Bay in Nicobar.

"By 2047, India targets a port handling capacity of 10,000 million metric tons per annum, leveraging strategic trade routes through initiatives like the India-Middle East-Europe Economic Corridor (IMEEC) and the International North-South Transport Corridor," the Union Minister said.

Sonowal further highlighted that reviving its shipbuilding legacy, India is constructing the National Maritime Heritage Complex at Lothal while advancing clean-fuel shipbuilding to meet future sustainability goals.

Additionally, Sonowal said the Ministry is also preparing to build future ships that run on clean fuels like ammonia, hydrogen, and electricity, capable of traversing brown, green, and blue waters.

Member of the Economic Advisory Council to the Prime Minister (EAC-PM), Sanjeev Sanyal, also addressed the Dialogue.

Sanyal said, “Our goal is to position ourselves at the forefront of the maritime sector.”

Highlighting that India has the technology, the young workers, the trade volume, the steel and the coastline, he said the country should aspire in 10 years to build 10-12 per cent of the world's ships.

Additionally, on the sidelines of Sagarmanthan, Sonowal participated in a bilateral meeting with the Minister of Maritime Affairs and Insular Policy Greece, Christos Stylianides.

The two leaders discussed an array of topics and agreed to deepen the maritime relationship between the two countries.

Speaking after the meeting, Sonowal said, "India is working with Greece to expand economic cooperation with the European Union market."

- with inputs from the PTI