Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, announced that Bengal is set to receive investment worth Rs 1 trillion in the maritime sector, which will establish the state as a maritime hub. Sonowal highlighted the importance of Kolkata’s rich maritime heritage and strategic location in enabling and empowering the eastern part of India. The maritime sector is crucial to the Indian economy, contributing over 90% of EXIM cargo by volume and about 70% by value. The announcement was made at a roadshow organized by Syama Prasad Mookerjee Port for the upcoming Global Maritime India Summit, which will take place from October 17 to 19 in New Delhi. The event aims to connect and collaborate with global investors.
Sonowal emphasized the role of the private sector in propelling the growth of India’s maritime sector. Public-Private Partnerships (PPP) have played a significant role in developing new ports and expanding the capacity of existing ones. Currently, PPP terminals handle about 50% of cargo at major ports, and efforts are being made to increase this share to 100% in the coming decades. The roadshow serves as a platform for industrial leaders, policymakers, and stakeholders from around the world to share knowledge and explore collaboration opportunities.
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