Sarbananda Sonowal holds pre-budget meeting with maritime sector stakeholders

New Delhi, July 1 Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal on Monday held a pre-budget meeting with various stakeholders to gather feedback and suggestions from experts and stakeholders across different sectors.

The discussions centred on identifying growth opportunities, addressing challenges, and exploring innovative solutions, the minister said after the meeting.

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

The minister pointed out that policy reforms in tax and GST, support for shipbuilding, and green initiatives underscore the Ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector.

“This interaction has given the Ministry of Ports, Shipping, and Waterways 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 waterways infrastructure to enhance EXIM trade and support economic growth, he added.

The Ministry of Ports, Shipping, and Waterways is spearheading several strategic initiatives to strengthen India’s maritime sector, focusing on sustainable and world-class infrastructure.

These include the Sagarmala Programme, with projects worth Rs 5100 crore, and the Shipbuilding Financial Assistance Policy supporting shipyards.

The Harit Nauka initiative will promote green fuel transportation in inland waterways, while the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (SOLE) will support financing to boost ship acquisition and Indian ownership.

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