Prime Minister Narendra Modi will inaugurate the third edition of the three-day Global Maritime India Summit (GMIS), which will be held in Mumbai, via video-conferencing on Tuesday and unveil "Amrit Kaal Vision 2047", a long-term blueprint for the Indian maritime economy.

His office said the blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration.

In line with this futuristic plan, the prime minister will inaugurate, dedicate to nation and lay the foundation stone of projects worth more than Rs 23,000 crore, that are aligned with this vision for the Indian maritime blue economy, the statement said.

Modi will lay the foundation stone of the Tuna Tekra all-weather deep draft terminal, to be built at a cost of more than Rs 4,500 crore at the Deendayal Port Authority in Gujarat. This state-of-the-art greenfield terminal will be developed in PPP mode.

It is likely to emerge as an international trade hub and will handle next-gen vessels exceeding 18,000 twenty-foot equivalent units (TEUs), and will act as a gateway for Indian trade via the proposed India-Middle East-Europe Economic Corridor (IMEEC), it said.

Over 300 Memorandums of Understanding (MoUs) worth more than Rs 7 lakh crore for global and national partnership in the maritime sector will also be unveiled during the programme.

The summit will be the biggest maritime event in the country, the statement said, adding it will witness participation of ministers from across the globe, representing Europe, Africa, South America and Asia (including central Asia, Middle East and BIMSTEC region).

The summit will also be attended by global CEOs, business leaders, investors, officials, and other stakeholders from across the world. Several Indian states will also be represented, it said.

The three-day summit will discuss and deliberate key issues of the maritime sector including ports of the future, decarbonisation, coastal shipping and inland water transportation, shipbuilding, repair and recycling, finance, insurance and arbitration, maritime clusters, innovation and technology, maritime safety and security, and maritime tourism among others.

The summit will also provide an excellent platform for attracting investment in the maritime sector of the country, it said.

The first edition of the summit was held in 2016 at Mumbai while the second was held virtually in 2021.

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