India will invest $82 billion in the development of ports by 2035, Prime Minister Narendra Modi said Tuesday.
Inaugurating the three-day Maritime India Summit 2021, the premier said the country has a rich maritime history and is serious about emerging as the "leading blue economy of the world."
"Our leading focus areas include upgrading current infrastructure, and creating next-generation infrastructure to give strength to our vision of Aatma Nirbhar Bharat [self-reliance]," he said.
The virtual summit by the Ports, Shipping and Waterways Ministry with Denmark as a partner country will be attended by participants from 24 countries. Danish Transport Minister Benny Englebrecht attended the opening ceremony.
Speaking of the Maritime India Vision 2030, Modi said the Sagarmala program was launched in 2016 to encourage port-led growth in the region. "More than 574 projects at a cost of $82 billion have been identified for implementation from 2015 to 2035," he said.
"India's long coastline awaits you. India's hardworking people await you. Invest in our ports. Invest in our people. Let India be your preferred trade destination."
India's Minister of State for Ports and Shipping Mansukh Mandaviya said the summit will be attended by ministers from eight nations, over 50 global chief executive officers and more than 160 speakers, including 115 international speakers from 24 countries.
"I am also pleased to inform you that the summit is one of the biggest virtual summits in the world where more than 170,000 participants have registered from more than 100 nations," he added.
