India's Maritime Sector Transforms, Drives Growth
PM Modi highlighted India's maritime sector's transformation, noting its ports are among the most efficient in the developing world. The sector has seen significant growth over the past decade, with modernized laws and increased port capacity.
Prime Minister Narendra Modi emphasized the transformation of India's maritime sector, which is now driving the country's growth. Over the past decade, the sector has undergone significant changes, including the replacement of colonial-era shipping laws with modern legislation. This has led to India's ports being recognized as among the most efficient in the developing world, often surpassing those in developed countries. The Maritime India Vision has launched over 150 initiatives, resulting in doubled port capacity and reduced turnaround times. Additionally, cruise tourism and inland waterways have seen substantial growth, with cargo movement increasing by over 700%. The number of operational waterways has expanded from three to 32, and the net annual surplus of ports has risen nine-fold.
