Deputy Director General of Shipping, Union Ministry of Shipping Dr. Pandurang Raut (IRS) stated that up to 95% of India’s trade by volume and 68% by value passes along coastal channels, demonstrating the potential for the blue economy. He said, “The Maritime Amritkal Vision 2046 released in 2023 is aimed at increasing the modernization of the ports, enhancing the port shipping infrastructure, and harvesting the maritime energy,” during the ASSOCHAM’s Conference on “Accelerating the Blue Economy Wave towards Viksit Bharat.”
With an expenditure of Rs 11,752 crores, about 81 projects along India’s coast are being carried out under the Sagar Mala program. Additionally, 37 fishing harbor projects are being created with an investment of Rs. 6,540 crores, and 21,000 youngsters have already received training under the coastal development program,” he added. “A total of Rs 240 crores has been allocated for the development of marine litter management practices under the National Coastal Mission.” Experts in the Mumbai shipping sector see enormous potential for India to become a “blue economy.” With a 7517-kilometer coastline that is home to 12 large ports and about 200 smaller ports that handle about 1550 million tons of cargo annually, India holds a significant place in the world’s maritime economy.
