India pledges $20 billion to develop its maritime infrastructure: Sonowal
Union Minister Sarbananda Sonowal announced that India has committed $20 billion for infrastructure development, with an emphasis on improving port connectivity, multimodal logistics, and trade facilitation. India’s expanding marine capabilities, such as its favorable policy-induced investment climate, demonstrated shipbuilding strength, and creative financing strategies to boost sectors growth, were underlined by Sonowal during his speech at the Nor-Shipping conference in Oslo.
The minister of ports, shipping, and waterways also urged for more collaborations in the hiring of seafarers. Additionally, Sonowal emphasized the importance of bolstering maritime supply chains and connectivity through key corridors such as the International North-South Transport Corridor (INSTC), the Eastern Maritime Corridor (EMC), and the India-Middle East-Europe Economic Corridor (IMEEC).
In order to facilitate the production of green hydrogen and its derivatives and to lead the way in the use of alternative fuels in the maritime industry, he stated that India is building three Green Hydrogen Hub Ports: Kandla, Tuticorin, and Paradip. He emphasized the importance of a sustainable and green maritime future. Sonowal is visiting Norway and Denmark for five days as part of an official tour.
