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India aspires at least 50 pc of global ship recycling business: Mandaviya

·2-min read

New Delhi, Mar 2 (PTI) India aspires to raise its share in the global ship recycling business to at least 50 per cent, union minister Mansukh Mandaviya said on Tuesday.

Ports, Shipping and Waterways Minister Mandaviya was addressing the ‘Maritime India Summit 2021’, inaugurated by Prime Minister Narendra Modi.

'India aspires at least 50 per cent of global ship recycling business after passing of the Recycling of Ships Act,' Mandaviya said in his welcome address.

The country's share in the global ship recycling business is around 30 per cent at present.

He said the maritime sector in India is being propelled in a bid to make this sector a key pillar of transport, trade and infrastructure.

Currently, India recycles 70 lakh gross tonnage of ships per annum.

Mandaviya said that the Indian government is all geared up for facilitating and grounding the investments in the maritime sector.

Earlier the Prime Minister released an e-book of ‘ Maritime India Vision-2030’.

Maritime India Vision 2030 aims to make the Indian Maritime Industry at par with top global benchmarks in next 10 years.

The Prime Minister also unveiled the e-plaque of ‘Sagar-Manthan’: Mercantile Maritime Domain Awareness Centre (MM-DAC). It is an information system for enhancing maritime safety, search and rescue capabilities, security and marine environment protection.

Addressing the event, Mandaviya said it is one of the biggest virtual summits in the world, with over 1.7 lakh registered participants from more than 100 nations. He said more than 400 memorandum of understanding (MoUs) are being signed during the three-day event.

The Summit will visualize a roadmap for India's Maritime sector for next decade and will work to propel India to the forefront of the global maritime sector.

Minister of Transport of Denmark Benny Englebrecht, Gujarat Chief Minister Vijay Rupani, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, Petroleum Minister Dharmendra Pradhan among others were present on the occasion.

Denmark is the country partner for the three-day summit.

Ministers from seven countries will be participating from countries like Russia, Uzbekistan, Qatar, Denmark, Iran, Afghanistan, Armenia, the statement said.

Ambassadors from 24 countries will be participating in India's biggest Maritime event. Over 110 companies are participating in the virtual exhibition, including ports, maritime states and private companies. PTI NAM NAM DRR DRR DRR