The Minister of State's flagship initiative for Ports, Shipping Waterways (I/C) and India's Government is planned for March 2021. The event will comprise a 3-day SUMMIT and Exhibition. The Maritime Summit India 2021 registration is now open. The event will be attended by various stakeholders in the maritime sector, including senior and eminent policy planners, domestic and international investors. CEOs of Indian and global maritime companies, industry experts, thought leaders, technology providers, bankers and insurers, and representatives of major ports and shipping lines worldwide.
Investment Opportunities at Maritime Summit India 2021
- Port Modernization and New port Development
India has 12 major ports administered by the Central Government and 205 notified non-major ports along its 7,517 km coastline. India's infrastructure sector, particularly the maritime sector, is expected to grow significantly with increased international and domestic trade volumes.
About 95% of India's external trade by volume is handled by maritime transport, and hence, there is a continuous need to develop and modernize India's ports and port-related infrastructure. The improvement in port infrastructure will assist in the growth of manufacturing activity in the country and help realize the goals of 'Make in India' initiative.
- Ship Building, Ship Repair, and Ship Recycling
The Indian Shipbuilding, Ship Repair, and Ship Recycling industry play a significant role in the country's maritime sector. This industry is key to bringing about economic prosperity for the large number of people living in the country's coastal regions by providing employment, increasing maritime trade, and promoting ancillary industries, such as steel, light engineering, etc. India currently has 28 shipyards, six under Central Public Sector, two under State Governments, and 20 under the private sector. India has demonstrated strong shipbuilding capability in the past, with several shipyards delivering suitable quality vessels globally.
- Maritime Skill Development
Maritime Summit India 2021 focuses on over 17.5 percent of the world's population as per the Census 2011; India's population pyramid is expected to 'bulge' across the 15 to 64 age brackets. There's a growth in the working-age population and has become a "demographic bonus" where the working-age population is higher than that of the total population.
- Renewable Energy in Ports
Renewable energy is expected to play an increasingly important role in the energy mix of India. The Minister of State for Ports, Shipping Waterways (I/C) is committed to promoting green energy at the Major Ports and providing incentives for the same. As of 2020, India is one of the lowest-cost producers for solar PV worldwide, with the cost of generation being less than INR 3/ unit for utility-scale PV.
However, there is further potential to install wind farms in fallow land near/in the port area, shallow waters, and along breakwaters. So, if you are planning to register yourself at Maritime Summit India 2021, do it right now before the last-minute rush. You can either attend the event as a visitor or you can exhibit at the event to explore opportunities at Maritime Industry.