Citing the importance of reducing the expenses on transportation of goods across the country, Central Minister of Ports, Shipping and Waterways, Sarbananda Sonowal on Friday asserted that the act (Inland Vessel Act, 2021) will be a revolution and lead to ease in executing trade activities. The Inland Vessels Bill, 2021, was passed by the Lok Sabha and the Rajya Sabha on July 29, and August 02 respectively.

India on the verge of a maritime transformation: Sarbananda Sonowal

Addressing a conference organised by the Federation of Indian Chambers of Commerce & Industry (FICCI), Sonowal stated that the Port development in India is led by the Sagarmala project and the Maritime India Vision 2030. Sonowal also maintained that India is on the verge of a maritime transformation and that it demands a robust and dynamic maritime enterprise for taking up economic and strategic projects.

“The goals set to achieve in the ‘Maritime India Vision 2030’ will help accelerate the growth of the sector and aspire to bring the Indian maritime industry at par with the top global benchmark in the next 10 years,” Sonowal said.

Centre focussing on Indigenous shipbuilding, ship repair market

The Minister of Ports, Shipping and Waterways also stated that the Centre has been concentrating on indigenous shipbuilding and ship repair market. “To encourage domestic shipbuilding, the Shipbuilding Financial Assistance Policy for Indian Shipyards has been approved,” the Minister said.

Sonowal also asserted that the Ministry has seen instrumental development in port-led development, policy initiatives, provision of multi-modal services for logistic movement through inland waterways, while also focussing on improving ship-building and recycling techniques.

Sonowal also maintained that India is on the verge of a maritime transformation and that it demands a robust and dynamic maritime enterprise.

Marex Media