Maritime India Vision 2030

The recently introduced Maritime India Vision 2030 refers to a 10-year plan to overhaul the Indian maritime domain. Launched by the Indian Prime Minister Shri Narendra Modi, the Maritime India Vision 2030 project aims to make Indian marine ports hi-tech with all amenities to align with the ‘Maritime Vision 2030’ of the Ministry of Shipping.

This Maritime Vision will likewise assist in improving the ease of conducting business for the marine exporters as it is more price-efficient.

What is the Maritime India Vision 2030 Project?

The Maritime India Vision 2030 project is one of the recent undertakings of the Government of India's Sagarmala program, which summarizes a sequence of development projects and policy initiatives. The Prime Minister of India, Shri Narendra Modi, inaugurated the Maritime India Vision 2030 at the annual Maritime India Summit in 2020.

The development of this Maritime India Vision 2030 project will witness a cumulative investment of INR 3.4 lakh crore to boost annual freight volumes to approximately 2600 million tonnes. This increase in the freight volume will assist the government in creating better job opportunities and more income sources of around INR 20,000 crore for state-owned significant ports. Furthermore, after completing this Maritime Vision Project, the maritime industry will witness a boost in the shipbuilding industry in the country and promote cruise tourism.

Maritime India Vision 2030 Project Significance

The Maritime India Vision 2030 project will be essential in handling low-cost long-tenure investments in the maritime sector. The central government will fund INR 2500 crore over this tenure for the next seven years.

This government project will facilitate shipping tonnage to promote the marine sector in India. In addition, the administrative body will be set up according to the Indian Ports Act. It will deliver surveillance across central and non-major docks, improve the institutional scope and guarantee structured development of the Indian ports industry to boost investor confidence.

Maritime India Vision 2030 - Some Additional Projects

• The Maritime India Vision 2030 launched by the Government of India will improve the Waterways Connectivity Transport Grid, a scheme that will boost marine connectivity with Nepal, Bangladesh, Bhutan, and Myanmar.
• As per this Marine Development Scheme, the Riverine Development Fund (RDF) will develop low-cost allocation to fund inland ships and expand the scope of the capacity tax system to inland containers.
• The port expenses will be justified to make them more affordable and eliminate hidden expenses charged by vessel liners, thereby offering more accountability and transparency.
• This project will further assist in the decongestion of metropolitan regions and developing marine ways as an alternative means of urban transportation.

To sum up, we can say that the launch of Maritime India Vision 2030 will help the Indian government facilitate the natural movement of vessels from plants without any mediators, which will help in improving the ease of conducting business and enhance global trade.

FAQs on Maritime India Vision 2030

Q 1. What is the Maritime India Vision 2030?

The recently introduced Maritime India Vision 2030 refers to a 10-year plan to overhaul the Indian maritime domain.

Q 2. What is the estimated invested amount in the Maritime India Vision 2030?

The development of the Maritime India Vision 2030 project will witness a cumulative investment of INR 3.4 lakh crore to boost annual freight volumes to approximately 2600 million tonnes.

Q 3. What is the significance of the Maritime India Vision 2030?

The Maritime India Vision 2030 project will be essential in handling low-cost long-tenure investments in the maritime sector. The central government will fund INR 2500 crore over this tenure for the next seven years.

Q 4. Who launched the Maritime India Vision 2030?

The Maritime India Vision 2030 project was launched by the Indian Prime Minister Shri Narendra Modi.

Q 5. When was the Maritime India Vision 2030 launched?

The Maritime India Vision 2030 was launched in 2020.