Prime Minister Narendra Modi has reiterated India's resolve to develop its maritime sector in line with larger regional efforts such as BIMSTEC and national initiatives to improve maritime capabilities. This emphasis on maritime development is important for increasing trade, security, and economic growth.
Key Highlights:
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BIMSTEC Maritime Cooperation: Prime Minister Modi put stress on the role of maritime cooperation at the BIMSTEC Summit while suggesting the inclusion of a Sustainable Maritime Transport Centre in India. This centre would further capacity development, research, and innovation related to maritime policy to ensure maritime security.
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Maritime Transport Agreement: BIMSTEC countries signed a maritime transport agreement to enhance shipping efficiency, lower costs, and streamline supply chain management. The agreement comprises national treatment of ships and a mechanism for dispute settlement.
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National Maritime Projects: The Ministry of Ports, Shipping & Waterways plans to finalize 150 maritime projects by September 2025, including shipbuilding, digitalization, and green shipping initiatives. India aims to become among the top five shipbuilding countries by 2047.
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Regional Connectivity: PM Modi's plan involves connecting India's UPI with BIMSTEC payment systems to increase trade and tourism in the region.
These initiatives reflect India's strategic drive to emerge as a prominent maritime force, deepening regional relations and domestic capabilities.
Source: India Today, Hindustan Times, Tribune India.