Mumbai, April 14: Pitching for making the country’s 7,500-km long coastline an “engine of growth”, Prime Minister Narendra Modi Thursday said India wants to mobilise Rs 1 lakh crore investment to enable port development and invited global community to invest.
Inaugurating the first Maritime India Summit (MIS) here, Modi said it is the “right time” to come and better through the “sea route”.
“Our vision is to increase port capacity from 1,400 million tonnes to 3,000 million tonnes by 2025. We want to mobilise an investment of Rs 1 lakh crore in the port sector to enable this growth,” the Prime Minister said after opening the MIS 2016.
India, according to Modi, plans to add five new ports to meet increasing demand of Exim trade, which is expected to rise in line with the fast-growing Indian economy. New ports are also being developed by several coastal states of India.
