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PM will Inaugurate the Global Maritime India Summit 2023

Utkarsh Classes 16-10-2023
PM will Inaugurate the Global Maritime India Summit 2023 Summit and Conference 4 min read

On 17th October, 2023, Prime Minister Shri Narendra Modi will inaugurate the 3rd Global Maritime India Summit (GMIS).

The Global Maritime India Summit 2023 Venue is MMRDA Grounds in Mumbai.

The Global Maritime India Summit 2023 

  • Global Maritime India Summit (GMIS) 2023 is a flagship event aimed at propelling the Indian maritime economy by promoting global and regional partnerships and facilitating investments.
  • The summit is the largest maritime event in the country. It will have the participation of ministers from Europe, Africa, South America, Asia (including Central Asia, the Middle East, and the BIMSTEC region). 
  • The event comprises an investor summit and international exhibition aimed at fostering collaboration among Indian and global maritime companies, policymakers, investors, and other stakeholders.
  • The first Global Maritime India Summit took place in Mumbai in 2016. The second edition of the summit was held virtually in 2021.
  • Government of India's Ministry of Ports, Shipping, and Waterways is the designated nodal agency for promoting investments and facilitating approvals for maritime industries.
  • Other partners are Federation of Indian Chambers of Commerce & Industry (FICCI) and Indian Ports Association.
  • India's maritime sector is a crucial factor in the country's economic growth. With a vast coastline measuring over 7,500 km, India ranks as one of the largest maritime nations in the world. 
  • The sector's economic significance is further elevated as it is a part of the world's busiest trade route. In fact, 95% of India's foreign trade and 70% of its total trade in terms of value takes place through seaways.

 

Federation of Indian Chambers of Commerce & Industry (FICCI)

FICCI, established in 1927, is India's oldest and largest apex business organization. India's history is closely tied to its struggle for independence, industrialization, and emergence as one of the world's fastest-growing economies.

FICCI is a non-governmental, not-for-profit organization that represents India's business and industry. It advocates for industry concerns through policy influence, debate encouragement, and engagement with policymakers and civil society.

 Indian Ports Association (IPA) 

The Indian Ports Association (IPA) was established in 1966 under the Societies Registration Act with the primary objective of fostering growth and development in all major ports under the Ministry of Shipping's supervisory control. 

IPA has grown stronger, consolidating activities toward integrating the maritime sector.

Other Developments 

The Prime Minister will also introduce 'Amrit Kaal Vision 2047'; a long-term plan for the Indian maritime blue economy. The blueprint outlines strategic initiatives that aim to boost port facilities, promote sustainable practices, and encourage international collaboration. 

 

FAQ

Answer: Global Maritime India Summit (GMIS) 2023 is a flagship event aimed at propelling the Indian maritime economy by promoting global and regional partnerships and facilitating investments.

Answer: MMRDA Grounds in Mumbai

Answer: Ministry of Ports, Shipping, and Waterways

Answer: The vision of amrit kaal is to boost port facilities, promote sustainable practices, and encourage international collaboration.

Answer: Federation of Indian Chambers of Commerce & Industry (FICCI) and Indian Ports Association.
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