PM Gati Shakti helps India register growth of Rs 2 lakh crore in goods export in FY23: Sonowal

Union Minister Sarbananda Sonowal on Saturday said that the PM Gati Shakti programme has helped the country to register a year-on-year incremental growth of Rs 2 lakh crore in goods export in the previous fiscal.

Delivering his speech at an event hosted by Indian Merchants Chamber here, Sonowal, who is the Minister for Ports, Shipping and Waterways, also said the central government has been working hard towards improving and modernising India's ports and connected infrastructure.

As a result of transformational initiatives, “in 2022-23 financial year India's Goods exports touched $447 billion, up from $422-billion a year earlier, which translates into a huge increase of more than Rs 2 lakh crore in a year,” Sonowal was quoted as saying in a statement.

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According to the minister, India has become a $3.5 trillion economy in less than nine years.

“This blistering speed of the growth is historic and the result of Gati Shakti,” he stated.

"The multi-modal connectivity provides integrated and seamless connectivity for the movement of people, goods and services from one mode of transport to another."

It facilitates last-mile connectivity of infrastructure and also reduces travel time for people, he added.

Under PM Gati Shakti NMP, the Ministry of Ports, Shipping, and Waterways has identified 101 projects worth Rs 62,227 crores for implementation by 2025, as per the minister.

Out of these 101 projects, 26 projects worth Rs 8,897 crore have been completed, 42 projects amounting to Rs 15,343 crore are under development, while 33 projects worth Rs 36,638 crore are under implementation, he informed.

Out of the projects under implementation, 14 projects worth Rs 20,537 crore are expected to be completed by December this year, the minister said.

Of the 101 MoPSW Gati Shakti projects, 57 are from the major ports, and 44 projects are from states, he said, adding these projects have supported faster and more efficient movement of cargo, leading to an overall reduction in logistics cost.

According to Sonowal, his ministry has also identified five high-impact projects (HIP), which demonstrate the concept and spirit of the Gati Shakti programme.

He also said that the tonnage of Indian ships has increased to 13.7-million gross tonnage compared to only 10.3 Million Gross Tonnage in 2014.