The three-day Global marine India Summit (GMIS), which will be held in Mumbai, will be opened by Prime Minister Narendra Modi via video conference on Tuesday. He will also present the “Amrit Kaal Vision 2047,” a long-term strategy for the Indian marine industry.

The roadmap, according to his administration, comprises strategic measures targeted at boosting sustainable practices, improving port infrastructure, and streamlining international cooperation.

The prime minister will officially launch, dedicate to the nation, and lay the cornerstone for projects totaling more than Rs 23,000 crore that are in accordance with this vision for the Indian maritime blue economy, according to the announcement.

At the Deendayal Port Authority in Gujarat, Modi will lay the cornerstone for the construction of the Tuna Tekra all-weather deep draft port, which is expected to cost more than Rs 4,500 crore. This cutting-edge greenfield terminal will be built using the PPP model.

According to the statement, it will serve as a gateway for Indian trade via the proposed India-Middle East-Europe Economic Corridor (IMEEC), and it is likely to become a major international trade hub that can handle boats larger than 18,000 twenty-foot equivalent units (TEUs).

During the program, more than 300 Memorandums of Understanding (MoUs) for international and domestic partnerships in the maritime sector, totaling more than Rs 7 lakh crore, will also be revealed.

According to the announcement, the summit will be the largest maritime event ever held in the nation. Ministers from all over the world, including those from Central Asia, the Middle East, and the BIMSTEC region, will attend.

Global CEOs, corporate executives, investors, government representatives, and other stakeholders from around the world will also be present at the summit. It is stated that several Indian states will be represented.

The future of ports, decarbonization, coastal shipping and inland water transportation, shipbuilding, repair, and recycling, finance, insurance, and arbitration, maritime clusters, innovation and technology, maritime safety and security, and maritime tourism, among other topics, will all be covered during the three-day summit.

According to the statement, the summit will offer a great platform for luring investment to the nation’s maritime industry.

The summit’s first iteration took place in Mumbai in 2016, and the second one took place essentially in 2021.

In addition, Prime Minister Narendra Modi will open the first Rapid rail line in India, also known as RAPIDX, in Ghaziabad. The inauguration program will reportedly take place before this week’s end, per sources.