New Township Policy Around Major Ports to Boost Infrastructure and Economic Growth

The Ministry of Shipping is introducing a new township policy to make use of the vast land areas surrounding major ports. These townships will be developed on a public-private partnership (PPP) basis, starting with ports in Mumbai, Kolkata, Chennai, and Vishakapatnam, with the goal of eventually covering all ports. A mega package of Rs 5,000 crore is being allocated for this initiative under the Viability Gap Funding Scheme, aimed at promoting the construction of inland waterway vessels. Future plans involve extending support for the construction of sea-going vessels, including cruise ships.

This new policy is designed to boost infrastructure development around major ports, creating opportunities for economic growth and job creation. By developing townships on the outskirts of ports, the government aims to maximize the potential of these strategic locations while also addressing urbanization challenges in coastal areas. The emphasis on PPP partnerships highlights the government’s commitment to leveraging private sector expertise and resources in driving infrastructure projects.

The investment in the construction of inland waterway vessels and potential future support for sea-going vessels align with the government’s broader vision of promoting water transport as a sustainable and efficient mode of transportation. By providing financial assistance through the Viability Gap Funding Scheme, the Ministry of Shipping aims to incentivize private sector participation in vessel construction, ultimately enhancing India’s maritime infrastructure and connectivity.

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