Context: Recently, Prime Minister of India virtually inaugurate the third edition of the Global Maritime India Summit 2023 and unveil a blueprint for the maritime blue economy.

• The blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration.

Key Points

• The three-day summit will discuss and deliberate key issues of the maritime sector including ports of the future; decarbonisation; coastal shipping and inland water transportation; shipbuilding; repair and recycling; finance, insurance & arbitration; and maritime clusters among others.

• Indian Prime Minister Narendra Modi inaugurated the Global Maritime India Summit 2023 via video conferencing in Mumbai.

• He unveiled ‘Amrit Kaal Vision 2047,’ a blueprint for India’s maritime blue economy, and laid the foundation stone for projects worth over Rs 23,000 crores in line with this vision.

• He emphasized the importance of India’s maritime capabilities in global trade and detailed the government’s efforts to strengthen the sector.

• The summit serves as a platform to attract investment in India’s maritime industry, promoting port development, sustainability, and international collaboration.

• Modi invited global investors to contribute to India’s development as it aims to become a developed nation by 2047.

• The event witnessed the participation of ministers and stakeholders from around the world to discuss various aspects of the maritime sector.

About Global Maritime India Summit 2023

• Global Maritime India Summit 2023 is a premier maritime sector focused event to bring together pivotal figures from the industry to explore opportunities, understand challenges, and stimulate investment within India’s maritime sector.

• Building upon the legacy of its preceding editions, this third installment aims to unveil broader prospects for domestic and international maritime stakeholders and investors.

• The summit will witness the participation of Ministers from across the globe representing countries from Europe, Africa, South America, and Asia including central Asia, Middle East and BIMSTEC region.

• The summit is also to be attended by Global CEOs, Business leaders, Investors, Officials, and other stakeholders worldwide.

• Further, several Indian states will also be represented at the summit by the Ministers and other dignitaries.