India's PM Modi to Launch Global Maritime India Summit 2023 on October 17
New Delhi - Indian Prime Minister Narendra Modi will launch the third edition of the Global Maritime India Summit (GMIS) 2023 on Tuesday, October 17, 2023, via video conferencing. The summit will be held in Mumbai from October 17-19, 2023.
The GMIS is India's largest maritime event and will bring together ministers from countries around the world, including Europe, Africa, South America, and Asia. The summit will also feature global CEOs, business leaders, investors, officials, and other stakeholders from around the world. In addition, several Indian states will be represented by ministers and other dignitaries.
During the summit, Prime Minister Modi will unveil a long-term roadmap for India's maritime "Blue" economy, called "Amrit Kaal Vision 2047." He will also inaugurate, dedicate to the nation, and lay the foundation stone for projects worth over ₹23,000 crore (~$3.1 billion) in line with this visionary plan.
In addition, Prime Minister Modi will lay the foundation stone for the Tuna Tekra All-Weather Deep Draft Terminal at the Deendayal Port Authority in Gujarat, which is expected to cost over ₹4,500 crore (~$600 million). This state-of-the-art greenfield terminal will be developed in the PPP mode. The terminal is expected to emerge as an international trade hub, handling next-generation ships of over 18,000 twenty-foot equivalent units (TEUs) and serving as a gateway for Indian trade through the India-Middle East-Europe Economic Corridor (IMEEC).
During the summit, Prime Minister Modi will also dedicate over 300 MoUs worth over ₹7 lakh crore (~$100 billion) in global and national partnerships in the maritime sector.
The first GMIS was held in Mumbai in 2016. The second maritime summit was held virtually in 2021.
Key Highlights
Indian Prime Minister Narendra Modi to launch the third edition of the Global Maritime India Summit (GMIS) 2023 on Tuesday, October 17, 2023, via video conferencing.
The summit will be held in Mumbai from October 17-19, 2023.
The GMIS is India's largest maritime event and will bring together ministers from countries around the world, including Europe, Africa, South America, and Asia.
During the summit, Prime Minister Modi will unveil a long-term roadmap for India's maritime "Blue" economy, called "Amrit Kaal Vision 2047."
He will also inaugurate, dedicate to the nation, and lay the foundation stone for projects worth over ₹23,000 crore (~$3.1 billion) in line with this visionary plan.
In addition, Prime Minister Modi will lay the foundation stone for the Tuna Tekra All-Weather Deep Draft Terminal at the Deendayal Port Authority in Gujarat, which is expected to cost over ₹4,500 crore (~$600 million).
During the summit, Prime Minister Modi will also dedicate over 300 MoUs worth over ₹7 lakh crore (~$100 billion) in global and national partnerships in the maritime sector.
Analysis
The GMIS is a major event for the Indian maritime sector and is expected to attract significant investment and interest from around the world. The summit's focus on India's "Blue" economy is a reflection of the government's commitment to developing the maritime sector as a key driver of economic growth and job creation.
The unveiling of the "Amrit Kaal Vision 2047" is a significant milestone for India's maritime sector. The roadmap sets out a clear vision for the future of the sector, with a focus on sustainable development and innovation. The launch of the roadmap is expected to boost investment and collaboration in the maritime sector.
The inauguration of major projects, such as the Tuna Tekra All-Weather Deep Draft Terminal, is a sign of the government's commitment to developing India's maritime infrastructure. The terminal is expected to play a key role in boosting trade and commerce in the region.
The dedication of over 300 MoUs is a further sign of the growing interest in India's maritime sector. The MoUs are expected to lead to significant investment and collaboration in the sector.