India has outpaced several developed nations in ship-turnaround time: PM Modi

Prime Minister Narendra Modi on Wednesday highlighted that India has outpaced several developed nations in shipturnaround time emphasising the countrys proven potential and standing in global tradeThe prime minister made these remarks while dedicating projects worth Rs 4000 crore to the nation including crucial strategic initiatives at Cochin Shipyard Limited He mentioned that these projects would accelerate the development of the southern region of the countryThe world is recognising Indias potential and position in global trade Modi said shedding light on the agreements made during Indias G20 Presidency regarding the Middle EastEurope Economic CorridorModi said that the Middle EastEurope Economic Corridor will further strengthen the creation of Viksit Bharat by providing a boost to the coastal economy of IndiaReflecting on the past the prime minister recalled that just a decade ago ships had to wait for a considerable amount of time at the ports and unloading took a very long timeToday the situation has changed Modi said informing that India has surpassed many developed nations in terms of shipturnaround timeEmphasising the role of every state in the journey of making India Viksit Bharat during the Amrit Kaal Modi recalled the historical significance of ports in Indias prosperity in earlier times and envisioned a similar role for ports in the current era as the country takes new strides becoming a major centre of global tradeIn such a scenario the prime minister said that the government is engaged in enhancing the strength of port cities like KochiHe listed an increase in port capacity investment in port infrastructure and improved connectivity of ports under the Sagarmala ProjectSpeaking on the countrys largest dry dock that Kochi received on Wednesday he mentioned Other projects like shipbuilding ship repairing and the LPG import terminal will also give momentum to development in Kerala and the southern region of the countryAcknowledging the honour of building the Made in India aircraft carrier INS Vikrant with the Cochin Shipyard Modi said New facilities will enhance the capabilities of the shipyard many timesThe prime minister spoke about changes in the ports shipping and waterways sector over the past decade mentioning how they attracted new investments and generated job opportunitiesHe said that rule reforms for Indian Seafarers resulted in a 140 per cent increase in their numbersAdditionally the prime minister highlighted that using inland waterways significantly boosted passenger and cargo transport within the countryModi further said that in the Azadi Ka Amrit Kaal each state plays a vital role in Indias journey toward developmentWhen everyone works together the results are much better he saidThe prime minister also congratulated Keralites for being the recipients of projects worth Rs 4000 croreModi said that the new dry dock is a source of national pride for IndiaIt not only allows large vessels to dock but also facilitates shipbuilding and repair work reducing reliance on foreign countries and saving foreign exchange he saidReferring to the opening of the International Ship Repair Facility the prime minister said that it will transform Kochi into the largest ship repair center in India and AsiaDrawing parallels with multiple small businesses collaborating in the manufacturing of INS Vikrant he expressed confidence in creating a new ecosystem of small businesses with the launch of such extensive shipbuilding and repair facilitiesHe also highlighted that the new LPG Import Terminal will cater to the LPG needs of Kochi Coimbatore Erode Salem Calicut Madurai and TrichyIt will also support industries promote economic development and generate new jobs in these areas the prime minister addedPrior to the inauguration Union Minister Sarbanand Sonowal shared details of the project in his welcome addressKerala Chief Minister Pinarayi Vijayan who also spoke at the event conveyed the states thanks to the PMWe are delighted to have Prime Minister Narendra Modi in our midst At the outset let me extend a warm welcome to him and reaffirm Keralas commitment to the overall development of our country by playing a supportive role as the host state in mega projects such as this he saidThe CM in his brief speech also highlighted the role of staterun Keltron and various other Keralabased companies in the Chandrayaan3 and Aditya L1 projectsThe Central government anticipates that with the dedication of these projects Cochin Shipyard Limited is poised to double its turnover within the next four years to Rs 7000 croreThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever