Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal stated that the government aims to double the share of coastal and inland waterway shipping in India’s freight movement from 6% to 12% by 2047. Speaking at a Consultative Committee meeting in Puri, Odisha, he announced that the Puri International Cruise Terminal will be developed by the Paradip Port Authority in partnership with the Government of Odisha at a cost of ₹1,500 crore.
According to the ministry, the initiatives are supported by the Coastal Cargo Promotion Scheme and the Cruise Bharat Mission. The government targets attracting 1 million sea cruise passengers by March 2029. The ministry stated that the two initiatives together are expected to generate over 560,000 jobs and save 16 million metric tons of carbon dioxide emissions.
What it means
- The government is working to double the share of coastal and inland waterway shipping in India's freight movement from 6% to 12% by 2047.
- The Puri International Cruise Terminal will be developed by Paradip Port Authority in partnership with the Government of Odisha at an estimated cost of Rs 1,500 crores.
- The Cruise Bharat Mission targets 1 million sea cruise passengers and 400,000 jobs by March 2029.
Source
Press Information Bureau, Government of India, “Sarbananda Sonowal Outlines Plan to Double Coastal & Waterway Freight Share to 12% by 2047”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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