1 Lakh Crore MoUs From GMIS: India Gears Up for Speedy Implementation Plan

The Sagar Aankalan Guidelines for National Benchmarking of Indian Ports Performance to all Indian seaports to achieve, Mapping and benchmarking of Indian Port’s logistics performance and efficiency, harmonization of standards, definitions, and performance with global benchmarks, improving competitiveness, efficiency, and overall performance of the port sector with the focus on improvement, productivity, sustainability, and customer satisfaction.

The Ministry of Ports, Shipping and Waterways [MoPSW] successfully concluded the Stakeholders Meet – Implementation of MoUs at the Global Maritime India Summit 2023 [GMIS]. The ministry also pen-down smooth implementation of MoUs signed during the GMIS.

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GMIS 2023 emerged as one of the largest maritime summits globally, attracting a record-breaking investment commitment of Rs 10 lakh crore. The signing of 360 MoUs, with an investment commitment of Rs 8.35 lakh crore, and the announcement of additional investible projects worth Rs 1.68 lakh crore, underscored the immense potential of India’s maritime sector.

The MoUs signed at GMIS 2023 encompassed various facets of the maritime sector, including port development, modernization, green hydrogen and ammonia, port-led development, cruise sector, business and commerce, shipbuilding, and knowledge sharing. These initiatives are poised to drive innovation, foster economic growth, and strengthen India’s position as a global maritime leader.

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