Highlight the importance of port-led development for India, envisaged under the Sagarmala Project.
The importance of port-led development can be understood from the fact that 90% of total volume and 70% of total value of trade is via sea route in India.
- Triple objective of promoting infrastructure development, creating value for community and developing blue (resource) economy.
- Ensure connectivity of ports to hinterland through network of roads and railways.
- Port area development with necessary infrastructure.
- Increased connectivity will promote export-led growth.
- g. Export promotion zones in vicinity as hub and spoke model.
- Infrastructure enhances quality of life.
- Investment leads to multiplier effect – increased employment, income.
- Promote economic growth by giving necessary impetus to India’s trade (especially maritime sector).
- Reduce logistics cost.
- Enhance fleets.
- Promote blue economy – optimal utilisation of maritime resources.
- Benefits to people, profit & planet would translate into reduced inequalities, balanced growth, enhanced well being of coastal communities, and creation of climate resilient infrastructure.
The Sagarmala project is thus opportunity for India to build a better tomorrow while promoting blue economy and balanced growth.
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