India and the United States have agreed to deepen the scope of cooperation in the maritime sector. The American ports have evinced keen interest in comprehensive port-led development, especially the ambitious Sagarmala programme.
The Ministry of shipping said in a press release that 150 projects under this programme have the potential of mobilizing 50-60 Billion US Dollars of infrastructure investment and another 100 Billion US Dollars of investment for promoting industrial growth.
The Union Minister of Shipping, Road Transport and Highways Nitin Gadkari during his recent visit to the USA; held wide-ranging discussions with the representatives of Harbor Department of the City of Long Beach. Mr Gadkari offered investment opportunities in various areas such as development of new ports and berths/terminals in existing ports, coastal economic zones, dredging, ship building, ship repairing, ship recycling, development of inland waterways and coastal and cruise shipping.
Mr. Gadkari went round the Port of Long Beach and explored explored joint venture opportunities between the Port and India’s container handling Jawaharlal Nehru Port (JNPT) to promote transfer of technology and enhance bilateral commerce. Mr. Gadkari also outlined the regulatory assistance the Indian government has offered to the maritime sector; including grant of infrastructure status to shipyards, service tax exemption on ship repair service, setting up of ship repairing business immediately without any approval from Director Generals, etc.