Maritime India Summit 2021

02 Mar Maritime India Summit 2021

Posted at 02 Mar 2021 in Current Affairs, Economy, Environment and climate change, GS Paper II, GS Paper III, Infrastructure by Ajit Satapathy 0 Comments

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Context:

Prime Minister inaugurated the 2nd Maritime India Summit which occurred in a virtual mode on March 2, 2021.
This was done by the Ministry of Ports, Shipping, and waterways in collaboration with EY as the knowledge partner and FICCI as the Industrial Partner.

Key Highlights:

Operationalize 23 waterways by 2030.
An e-book ‘Maritime India Vision 2030’ which aims at making the Indian maritime industry competitive with the top global standards in the next 10 years was released.
Many opportunities will be coming up with the Major Ports Authorities Bill 2020.
As part of The Sagarmala project Programme, more than 574 projects at a cost of Rs six lakh crores have been marked for implementation from 2015 to 2035.
Ship repair clusters will be built along the coast-line by 2022.
The domestic ship recycling industry also will be promoted to make ‘Wealth from Waste’. India has made laws on the Recycling of Ships Act, 2019, and adhered to the Hong Kong International Convention.
Keen to market the utilization of renewable energy within the maritime sector.
The govt is within the process of putting in solar and wind-based power systems in the least the main ports across the country and aims to extend the usage of renewable energy to more than sixty percent of total energy by 2030 in 3 phases across all the Indian ports.

Significance:

The Maritime India Summit-2021 will provide a single platform that will have the virtual and physical significance of prominent shipping and transport dignitaries from around the world.
The maritime states of India also will be participating within the summit through the dedicated sessions.
The Prime Minister expressed the will to share our greatest practices with the planet and also the openness to learning from global best practices.
Continuing with India’s specialize in trade and economic linkages with the BIMSTEC and IOR nations, India plans to reinforce investment in infrastructure and facilitate mutual agreements by 2026.