Centre taking initiatives to transform maritime sector: Sarbananda Sonowal

For the first time, a financial outlay of ₹70,000 crore has been earmarked for the development of maritime sector, Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways said here on Friday.

While speaking at the inauguration of the Maritime Simulation Centre organised by AMET University, Chennai, and A.P. Moller-Maersk, Denmark at AMET Institute of Science and Technology-Maersk Centre of Excellence, he said the Cabinet had given its nod for three strategies to transform ship building, ship recycling, and build a globally competitive maritime ecosystem, a couple of days ago.

A Maritime Development Fund that has a corpus of ₹25,000 crore has been created to support Indian maritime industry’s financing needs, he said.

This aside, a revamped Ship Building Financial Assistance Scheme to address the cost disadvantages of building ships in India, including a credit note for shipbreaking in Indian yards to promote shipbuilding, has been approved, he added.

Mr. Sonowal said, in the last 32 years, AMET University has produced more than 18,000 seafarers, which is around 5.54% of India’s seafarers contribution to the global shipping industry. 

“The Maritime Simulation Centre inaugurated today, is the result of the serious implementation of NEP 2020 under the programme of International Industry and Research Collaboration with an Internationally renowned shipping company A.P. Moller-Maersk,” he said.

Shyam Jagannathan, Director-General of Shipping, said, “Today more than 12% of the global pool of seafarers comes from India. We are going to raise the bar, and make it 20% and above by 2030,” he said. 

J. Ramachandran, founder and chancellor, AMET University; Nynne Norman Scheuer, senior director, Head of Marine People and Culture, A.P. Moller-Maersk; and Karan Kochhar, director, Head of Marine People Asia, Maersk Fleet Management and Technology, were among those who spoke at the event.