The prime objective is to promote port-led direct and indirect development and to provide infrastructure to transport goods to and from ports quickly, efficiently and cost-effectively.
It will address challenges by focusing on three pillars of development,
- Supporting and enabling Port-led Development through appropriate policy and institutional interventions and providing for an institutional framework for ensuring inter-agency and ministries/departments/states’ collaboration for integrated development,
- Port Infrastructure Enhancement, including modernization and setting up of new ports, and
- Efficient Evacuation to and from hinterland.
- The Union Ministry of Shipping has been appointed as the nodal ministry for this initiative.
- To implement this, State governments would set up State Sagarmala committees, headed by the chief minister or the minister in charge of ports.
- At the central level, a Sagarmala Development Company (SDC) will be setup to provide equity support to assist various special purpose vehicles (SPVs) setup for various projects.