Highlight the importance of port-led development for India, envisaged under the Sagarmala Project.

The importance of port-led development can be understood from the fact that 90% of total volume and 70% of total value of trade is via sea route in India.

Sagarmala Project:

• Triple objective of promoting infrastructure development, creating value for community and developing blue (resource) economy.
• Ensure connectivity of ports to hinterland through network of roads and railways.
• Port area development with necessary infrastructure.

Benefits:

1. People
   • Increased connectivity will promote export-led growth.
   • g. Export promotion zones in vicinity as hub and spoke model.
   • Infrastructure enhances quality of life.
   • Investment leads to multiplier effect – increased employment, income.
2. Profit
   • Promote economic growth by giving necessary impetus to India’s trade (especially maritime sector).
   • Reduce logistics cost.
   • Enhance fleets.
3. Planet
   • Promote blue economy – optimal utilisation of maritime resources.
   • Benefits to people, profit & planet would translate into reduced inequalities, balanced growth, enhanced well being of coastal communities, and creation of climate resilient infrastructure.

The Sagarmala project is thus opportunity for India to build a better tomorrow while promoting blue economy and balanced growth.