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India has outpaced several developed nations in ship-turnaround time: PM Modi

Updated on: 17 January,2024 05:34 PM IST  |  Kochi

PM Modi said that the Middle East-Europe Economic Corridor will further strengthen the creation of 'Viksit Bharat' by providing a boost to the coastal economy of India

India has outpaced several developed nations in ship-turnaround time: PM Modi

Prime Minister Narendra Modi. Pic/PTI

Prime Minister Narendra Modi on Wednesday highlighted that India has outpaced several developed nations in ship-turnaround time, emphasising the country's proven potential and standing in global trade.

The prime minister made these remarks while dedicating projects worth Rs 4,000 crore to the nation, including crucial strategic initiatives at Cochin Shipyard Limited. He mentioned that these projects would accelerate the development of the southern region of the country.

"The world is recognising India's potential and position in global trade," Modi said, shedding light on the agreements made during India's G20 Presidency regarding the Middle East-Europe Economic Corridor.

Modi said that the Middle East-Europe Economic Corridor will further strengthen the creation of 'Viksit Bharat' by providing a boost to the coastal economy of India.

Reflecting on the past, the prime minister recalled that just a decade ago, ships had to wait for a considerable amount of time at the ports, and unloading took a very long time.

"Today, the situation has changed," Modi said, informing that India has surpassed many developed nations in terms of ship-turnaround time.

Emphasising the role of every state in the journey of making India 'Viksit Bharat' during the Amrit Kaal, Modi recalled the historical significance of ports in India's prosperity in earlier times and envisioned a similar role for ports in the current era as the country takes new strides, becoming a major centre of global trade.

In such a scenario, the prime minister said that the government is engaged in enhancing the strength of port cities like Kochi.

He listed an increase in port capacity, investment in port infrastructure, and improved connectivity of ports under the Sagarmala Project.

Speaking on the country's largest dry dock that Kochi received on Wednesday, he mentioned, "Other projects like shipbuilding, ship repairing, and the LPG import terminal will also give momentum to development in Kerala and the southern region of the country."

Acknowledging the honour of building the 'Made in India' aircraft carrier INS Vikrant with the Cochin Shipyard, Modi said, "New facilities will enhance the capabilities of the shipyard many times".

The prime minister spoke about changes in the ports, shipping, and waterways sector over the past decade, mentioning how they attracted new investments and generated job opportunities.

He said that rule reforms for Indian Seafarers resulted in a 140 per cent increase in their numbers.

Additionally, the prime minister highlighted that using inland waterways significantly boosted passenger and cargo transport within the country.

Modi further said that in the 'Azadi Ka Amrit Kaal', each state plays a vital role in India's journey toward development.

"When everyone works together, the results are much better," he said.

The prime minister also congratulated Keralites for being the recipients of projects worth Rs 4,000 crore.

Modi said that the new dry dock is a source of national pride for India.

"It not only allows large vessels to dock but also facilitates shipbuilding and repair work, reducing reliance on foreign countries and saving foreign exchange," he said.

Referring to the opening of the International Ship Repair Facility, the prime minister said that it will transform Kochi into the largest ship repair center in India and Asia.

Drawing parallels with multiple small businesses collaborating in the manufacturing of INS Vikrant, he expressed confidence in creating a new ecosystem of small businesses with the launch of such extensive shipbuilding and repair facilities.

He also highlighted that the new LPG Import Terminal will cater to the LPG needs of Kochi, Coimbatore, Erode, Salem, Calicut, Madurai, and Trichy.

It will also support industries, promote economic development, and generate new jobs in these areas, the prime minister added.

Prior to the inauguration, Union Minister Sarbanand Sonowal shared details of the project in his welcome address.

Kerala Chief Minister Pinarayi Vijayan, who also spoke at the event, conveyed the state's thanks to the PM.

"We are delighted to have Prime Minister Narendra Modi in our midst. At the outset, let me extend a warm welcome to him and reaffirm Kerala's commitment to the overall development of our country by playing a supportive role as the host state in mega projects such as this," he said.

The CM, in his brief speech, also highlighted the role of state-run Keltron and various other Kerala-based companies in the Chandrayaan-3 and Aditya L1 projects.

The Central government anticipates that with the dedication of these projects, Cochin Shipyard Limited is poised to double its turnover within the next four years to Rs 7,000 crore.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/ reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

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