The Indian government is planning a mammoth investment worth Rs.80 lakh crore to strengthen the country's maritime sector, according to a union minister. 

Speaking at the opening day of Sagarmanthan: The Great Oceans Dialogue, Sarbananda Sonowal, India's minister of ports, shipping and waterways said that the country is planning to use these investments to strengthen its port capacity, shipping, shipbuilding and inland waterways. 

The minister also added that the government is giving prime importance to projects including the Vizhinjam International Sea Port in Kerala and new mega ports at Vadhavan in Maharashtra, and Galathea Bay in Nicobar. 

India Seeks to Strengthen Maritime Sector 

During the speech, Sonowal said that bolstering the maritime sector is one of the key goals of the central government, with the country targeting a port handling capacity of 10,000 million metric tons per annum by 2047. 

"By 2047, India targets a port handling capacity of 10,000 million metric tons per annum, leveraging strategic trade routes through initiatives like the India-Middle East-Europe Economic Corridor and the International North-South Transport Corridor," said Sonowal. 

Affirming India's progress on the energy transition journey, the minister added that the country is constructing the National Maritime Heritage Complex at Lothal while advancing clean fuel shipbuilding to meet sustainability goals for the future. 

Sonowal further noted that the country is exploring ways to build ships for the future that will run on cleaner fuels like green ammonia, green hydrogen and electricity. 

For his part, Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister said that the country's goal is to position itself at the forefront of the maritime sector. 

India to Enhance Trade Ties with Greece

On the sidelines of the event, Sonowal also met with Christos Stylianides, the Greek Minister of Maritime Affairs and Insular Policy. 

During the meeting, both leaders discussed ways to elevate maritime cooperation between India and Greece. 

They also agreed to double the existing trade of $1.94 billion by 2030 between both nations. 

"India is working with Greece to expand economic cooperation with the European market," said Sonowal.