New Delhi: The development of Indian ports under the Maritime India Vision 2030 would drive estimated cost savings of Rs 6,000-7,000 crore per annum for exporters and importers, and help unlock Rs. 70,000-75,000-crore worth of potential revenue, Union Minister Sarbananda Sonowal said today.

Prime Minister Narendra Modi in March this year unveiled the Maritime India Vision 2030 which envisages an investment of Rs 3-3.5 lakh crore across ports, shipping, and inland waterways categories over 10 years.
Addressing an event organized by industry body CII, Ports, Shipping, and Waterways Minister Sarbananda Sonowal further said this investment excludes projects already under implementation stage under the Sagar mala Project.

"This vision roadmap is estimated to help unlock the 20,000-crore-plus worth of potential annual revenue wor Indian ports, the minister said Further, Sonowal said it is expected to create an additional 20 lakh jobs (direct and indirect) in the Indian maritime sector.

According to the minister, MIV 2030 estimates the development of Indian ports to drive cost savings to the tune of Rs 6,000-7,000 crore per annum for Exim clients and help unlock R$ 70,000 75,000-crore worth of potential revenue.

Under the Sagarmala Project, Sonowal said the government has identified 802 projects for implementation by 2035 and an investment of Rs 5.54-lakh crore has been invited.

Noting that an efficient logistics ecosystem is thought to be a catalyst for improving the competitiveness of all sectors of the economy, he said, "We are constantly aiming to increase our supply chain efficiency and lower logistics costs

He panted out that Indian ports have attracted a cumulative FDI to the tune of Rs. 122 billion.