Maritime India Vision - 2030 MIV 2030 envisions an overall investment of INR 3,00,000-3,50,000 Cr across ports, shipping, and inland waterways categories

 

  • Maritime India Vision - 2030 MIV 2030 envisions an overall investment of INR 3,00,000-3,50,000 Cr across ports, shipping, and inland waterways categories
  • MARITIME INDIA VISION 2030
  • Impact of Maritime India Vision - 2030 MIV 2030 envisions an overall investment of INR 3,00,000-3,50,000 Cr across ports, shipping, and inland waterways categories. 
  • This vision roadmap is estimated to help unlock INR 20,000+ Cr worth of potential annual revenue for Indian Ports. 
  • Further, it is expected to create an additional -20,00,000+ jobs (direct and non-direct) in the Indian maritime sector.   
  • India comprises a significant size maritime sector with 12 Major and 200+ Non-Major Ports situated along its 7500 km long coastline and a vast network of navigable waterways  
  • The country’s maritime sector plays a crucial role in its overall trade and growth, with 95% of the country’s trade volume and 65% of the trade value being undertaken through maritime transport  
  • Ministry of Ports, Shipping & Waterways has prepared ‘Maritime India Vision 2030’ (MIV 2030)    
  • India pays 80 Bn $ annually for chartering Foreign Shipping Vessels
  • Current estimates show freight costs will rise to $400 billion as we boost our exports and imports by 2047
  • The Govt. is ramping up efforts to curb this dependence and has plans to set up a shipping co. too and expand fleet by 1000 ships
  • India has a fleet of about 1,500 large vessels including tankers, gas carriers, container ships and dry bulk carriers
  • MIV 2030 emphasizes on further boosting performance and productivity of maritime sector to pave the way for an even better future.
  • To strengthen position of eminence in the global maritime sector, MIV 2030 identifies over 150 initiatives across various maritime sub-sectors like ports, shipping and waterways

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