<p>The first-ever Maritime India Summit would be inaugurated by Prime Minister Narendra Modi on Thursday, and the three-day long event would see signing of MoUs to the tune of Rs 82,000 crore.<br /><br /></p>.<p>Two sessions on April 14 and 15 have been planned for signing of over 120 business and concession agreements and EPC contracts. These are worth over Rs 82,000 crore (over $12 billion). As many as 20 LOIs are being signed covering an investment of Rs 8,260 crore ($1.3 billion). An MoU with South Korea on Port Development & Operations is also proposed to be signed.<br /><br />Talking to reporters on the eve of the Summit in Mumbai, Minister of Shipping, Road Transport and Highways Nitin Gadkari said that the port-led development is high on priority of the government.<br /><br />“The shipping sector has the potential of creating one crore jobs, 40 lakh directly and 60 lakh indirectly in the next five years,” he said, adding that the summit will open a new era of international cooperation in maritime sector which will immensely benefit the country.<br /><br />The 13 thematic sessions include sessions on Sagarmala — port-led development; ship building, ship repair and ship breaking; skill development through maritime education and training; inland water transportation and coastal shipping, among others.<br /><br />The partner country South Korea, which is a leading country in maritime related technologies and accounts for 30% of the global shipbuilding market, will have a special session focusing on potential areas of collaboration.</p>
<p>The first-ever Maritime India Summit would be inaugurated by Prime Minister Narendra Modi on Thursday, and the three-day long event would see signing of MoUs to the tune of Rs 82,000 crore.<br /><br /></p>.<p>Two sessions on April 14 and 15 have been planned for signing of over 120 business and concession agreements and EPC contracts. These are worth over Rs 82,000 crore (over $12 billion). As many as 20 LOIs are being signed covering an investment of Rs 8,260 crore ($1.3 billion). An MoU with South Korea on Port Development & Operations is also proposed to be signed.<br /><br />Talking to reporters on the eve of the Summit in Mumbai, Minister of Shipping, Road Transport and Highways Nitin Gadkari said that the port-led development is high on priority of the government.<br /><br />“The shipping sector has the potential of creating one crore jobs, 40 lakh directly and 60 lakh indirectly in the next five years,” he said, adding that the summit will open a new era of international cooperation in maritime sector which will immensely benefit the country.<br /><br />The 13 thematic sessions include sessions on Sagarmala — port-led development; ship building, ship repair and ship breaking; skill development through maritime education and training; inland water transportation and coastal shipping, among others.<br /><br />The partner country South Korea, which is a leading country in maritime related technologies and accounts for 30% of the global shipbuilding market, will have a special session focusing on potential areas of collaboration.</p>
