Union Minister Nitin Gadkari, during the Indian Maritime Week, emphasized the vital importance of job creation and foreign investment in India’s maritime sector. He pointed out that while the industry holds significant potential, innovative funding models are necessary to facilitate its growth. Gadkari shared his previous experience of raising funds in dollars through Singapore’s DBS Bank, noting that currency fluctuations can pose risks without proper hedging strategies.
He stressed that enhancing India’s credibility is essential for attracting global investors, stating, “without credibility, we cannot raise funds.” This underscores the need for a robust framework that can instill confidence in potential investors. Gadkari referenced successful funding models, such as Japan’s financing of metro rail projects, to illustrate the importance of structured mechanisms for managing foreign investments and currency risks.
In conclusion, Gadkari expressed optimism about the future of India’s maritime industry. He highlighted that, with strong economic fundamentals and growing global interest, the sector is well-positioned for substantial growth. However, he reiterated that trust and transparency must remain central to its development strategy. The minister’s insights underline the critical intersection of innovation and credibility in unlocking the potential of India’s maritime sector.
