Sarbananda Sonowal to hold pre-budget meeting with maritime stakeholders

New Delhi: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Monday held a pre-Budget meeting with various stakeholders to collect views and suggestions from experts and stakeholders from various sectors.

The discussions focused on identifying development opportunities, facing challenges and searching for innovative solutions, the minister said after the meeting.

“The government is focused on building a robust marine ecosystem that supports economic growth and environmental sustainability. With projects like Vadhavan Mega Transshipment Port and Cruise India Mission, the ministry is poised to make India a global maritime hub,” Sonowal said.

The Minister noted that tax and GST policy reforms, support to shipbuilding industry and green initiatives underline the Ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector.

“This interaction has provided the Ministry of Ports, Shipping and Waterways with insightful perspectives that will help in shaping a more inclusive and growth-oriented budget,” the minister said.

The government is committed to developing sustainable, world-class maritime and inland infrastructure to enhance EXIM trade and support economic growth, he added.

The Ministry of Ports, Shipping and Waterways has been spearheading a number of strategic initiatives to strengthen the Indian maritime sector with an emphasis on sustainable and world-class infrastructure.

These include the Sagarmala program covering projects worth Rs 5,100 crore and the shipbuilding financial assistance policy to support shipyards.

The Harit Nauka initiative will promote the transportation of clean fuels via inland waterways, while the Maritime Development Fund (MDF) and the Ship Owners and Leasing Entity (SOLE) will support financing to increase the number of ships acquired and Indian ownership.

The meeting was actively attended by over 150 stakeholders (including online) from major ports, shipping sector, Inland Navigation Authority of India (IWAI), Directorate General of Shipping (DG Shipping) and representatives of FICCI, CII, National Seafarers Association of India, Assocham, Shipyard Association of India, Maersk, DP World, JM Baxi, TCI Seaways, MSC etc.