What Is The Global Maritime India Summit 2023? Here’s All About Its Objectives, Initiatives & More

by Shreya Rathod
What Is The Global Maritime India Summit 2023? Here’s All About Its Objectives, Initiatives & More

The third Global Maritime India Summit 2023 was officially inaugurated by Prime Minister Narendra Modi via video conference. The meeting will continue in Mumbai through October 19. Here’s all about the summit, its objectives and initiatives!

3rd Edition Of Global Maritime India Summit 2023 Inaugurated By The PM!

The long-term plan for the Indian maritime blue economy, “Amrit Kaal Vision 2047,” will be unveiled by the Prime Minister during the programme. The strategy specifies tactical actions meant to advance port infrastructure, encourage environmentally friendly behaviour, and foster global cooperation. In accordance with the “Amrit Kaal Vision 2047” for the Indian Ocean blue economy, the Prime Minister will inaugurate it, dedicate it to the nation, and lay the cornerstone for projects totalling more than ₹23,000 crore.

At Gujarat’s Deendayal Port Authority, the Prime Minister will officially lay the cornerstone for the construction of the Tuna Tekra all-weather deep draught port, which is expected to cost more than ₹4,500 billion. The port, which is expected to develop into a major international trade hub, will handle modern ships larger than 18,000 TEUs and serve as a hub for trade between India and the Middle East and Europe. During the session, the Prime Minister will also dedicate more than 300 Memoranda of Understanding, totalling more than ₹7 lakh crore, for international and domestic cooperation in the maritime industry.

The summit is the nation’s largest maritime event. Ministers from all across the world who represent the continents of Europe, Africa, South America, and Asia will attend. The meeting will also feature participation from CEOs, corporate leaders, investors, government representatives, and other stakeholders from around the world. The Ministers and other dignitaries attending the summit will also represent several Indian states.

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What Is The Summit About?

A flagship event, the Global Marine India Summit (GMIS) 2023, would promote international and regional collaborations. It would also facilitate investments with the goal of boosting the Indian marine industry. An annual gathering of the Indian and worldwide marine community is held to discuss important challenges facing the sector and to share innovative ideas for its advancement.

GMIS 2023, led by the Ministry of Ports, Shipping and Waterways, brings together major opinion leaders, industry leaders, and international maritime actors through a series of lively discussions, conferences, and knowledge-sharing platforms. To encourage communication and cooperation among Indian and foreign marine enterprises, politicians, investors, and other stakeholders, the event comprises a symposium for investors and an international exhibition.

The event includes a Global CEOs’ Forum to promote communication and collaboration among significant industry executives. The event will also hold the Maritime Excellence Achievers’ ceremony to honour partners. They include partners who have made remarkable contributions to India’s development as a premier maritime hub.

India’s maritime industry is essential to the country’s economic development. India is one of the world’s largest maritime nations with a lengthy 7,500 km coastline. India’s maritime sector enjoys increased economic relevance because it is a part of the busiest trade route in the world. Seaways account for 70% of India’s overall trade in terms of value and 95% of its international trade.

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India now has 30 shipyards, more than 200 minor ports, 12 main ports. In addition to a complete hub of various maritime service providers.

Cover Image Courtesy: Global Maritime India Summit 2023/ X

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