Global Maritime Forum 'Sagarmanthan' Begins In India To Stir Dialogue On 'Blue Economy'

'Sagarmanthan - the Great Oceans Dialogue', described as South Asia’s largest maritime thought leadership summit, kicked off in New Delhi on Monday. The two-day event is aimed at stirring global dialogue on "blue economy", said Sarbananda Sonowal, the Union minister for ports, shipping, and waterways.

Among those attending the summit are the ministers and high-ranking officials from 61 countries, including Greece, Maldives, and Argentina. The summit is hosted by the Government of India, in collaboration with think-tank Observer Research Foundation.

The initiative brings together global policymakers, maritime experts, industry leaders, and scholars to deliberate on advancing sustainable and innovative maritime practices, a release said.

Speaking at the inaugural session, Sonowal said India's aim is to revolutionise its maritime sector "with an investment of Rs 80 lakh crore to enhance port capacity, shipping, ship building inland waterways".

"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," Sonowal added.

The Sagarmanthan summit underscores India’s strategic role in global maritime trade, with a 7,500-kilometre coastline and strategic islands that bolster its maritime potential.

The summit also highlights India’s commitment to the decarbonisation of the maritime sector through green initiatives such as the Harit Sagar Guidelines and the National Green Hydrogen Mission, the release said.

“For us policy makers, it is crucial to ensure a stable regulatory framework and a global level playing field for the industry. It is now time to set the foundations for forward-looking and realistic policies which will the current maritime challenges into opportunities," said Christos Stylianides, Greece's minister of maritime affairs.