India’s Coastal Channels are Key to Boosting Trade and the Blue Economy

Dr. Pandurang Raut, Deputy Director General of Shipping in the Union Ministry of Shipping, highlighted the significance of India’s coastal channels in facilitating trade. He mentioned that up to 95% of India’s trade volume and 68% by value traverse these routes, showcasing the potential for enhancing the blue economy. The Maritime Amritkal Vision 2046, unveiled in 2023, aims at modernizing ports, improving shipping infrastructure, and leveraging maritime energy for development, as emphasized during the ASSOCHAM’s Conference on “Accelerating the Blue Economy Wave towards Viksit Bharat.”

Under the Sagar Mala program, approximately 81 projects along India’s coastline are underway, with an expenditure of Rs 11,752 crores. Additionally, investments of Rs. 6,540 crores have been allocated for 37 fishing harbor projects, and 21,000 individuals have undergone training as part of the coastal development initiative. An allocation of Rs 240 crores has been earmarked for the enhancement of marine litter management practices under the National Coastal Mission. Experts in the Mumbai shipping sector foresee India’s potential to emerge as a significant player in the blue economy, with its extensive coastline of 7517 kilometers, housing 12 major ports, and around 200 smaller ports handling about 1550 million tons of cargo annually.

The focus on coastal development and maritime infrastructure reflects the government’s commitment to enhancing India’s position in the global maritime economy. The emphasis on port modernization, shipping infrastructure upgrade, and sustainable practices like marine litter management underscores the country’s determination to harness the potential of its coastal resources for economic growth and development. As India strategically positions itself to capitalize on its maritime strengths, it is poised to emerge as a key player in the evolving blue economy landscape.

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