Thiruvananthapuram, May 2 (IANS) Prime Minister Narendra Modi dedicated to the nation ‘Vizhinjam International Deepwater Multipurpose Seaport’ worth Rs 8,900 crore on Friday.
Kerala Chief Minister Pinarayi Vijayan and many dignitaries were present on the occasion.
After dedicating the ambitious seaport to the nation, PM Modi called it a significant achievement in India’s maritime capacity and said, “This port will open new opportunities for the people.”
PM Modi further stated, “This transshipment hub capacity at the seaport is set to triple in the near future. It is designed to accommodate large cargo ships, addressing a critical need. Until now, 75 per cent of India’s transshipment activities were conducted at foreign ports, resulting in significant revenue losses for the country. However, this is poised to change.”
He said that the money earlier spent abroad will now be channeled into domestic development, creating new economic opportunities for the people of the state and will ensure that the nation’s wealth directly benefits its citizens.
Addressing the event, PM Modi also spoke about India’s eminence in the pre-Independence era and highlighted how the maritime focus powered the country’s growth.
“Before Independence, India saw thousands of years of prosperity. At one time, India held a major share in the global GDP. What kept us apart from other countries during that era was our maritime capacity, the economic activity of our port cities. Kerala had a significant contribution to this,” PM Modi pointed out.
PM Modi further said that the full potential of the port economy is realised only when infrastructure development and the ‘Ease of Doing Business’ are prioritised and promoted in sync.
“Over the past decade, this approach has been the cornerstone of the government’s port and waterways policies. Significant strides have been made in advancing industrial activities and driving the holistic development of the state,” he stated.
Notably, the ambitious project is the country’s first dedicated container transshipment port and this will contribute to strengthening India’s position in global trade, enhancing logistics efficiency and reducing reliance on foreign ports for cargo transshipment.
–IANS
mr/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
