infrastructure: Creation of world-class infra at ports important for India to become $5 trillion economy: Venkaiah Naidu

Economy


NEW DELHI: Creation of world-class infrastructure at ports is important for India to become a USD 5 trillion economy, Vice President M Venkaiah Naidu said on Saturday.

He also called upon all the chairpersons and administrators of ports to make these facilities more energy-efficient and environment-friendly as such efforts were needed to counter climate change, an official statement said.

Interacting with the chairpersons of major port trusts during the ‘Chintan Baithak’ being held by the Ministry of Shipping in Mamallapuram, the Vice President stressed upon the need to harness India’s vast coast for the sustainable growth and development of the country.

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He called for developing all Indian ports on par with other global ports and said the creation of world-class infrastructure at ports was important for India to become a USD 5 trillion economy.

He added that India has an excellent opportunity for port-led development as ports were inevitable for exports and imports.

Further, he advised the ports to adopt best practices to effectively utilise their financial resources to derive maximum benefits.

Naidu asked them to reduce logistics cost, dredging expenditure and also improve turnaround time.

“We need to create more transshipment hubs on either side of the coasts,” he said.

The three-day Chintan Baithak, ending on Sunday, is an endeavour towards discussing and finding solutions to various challenges being faced by the ports and mapping out the prospects of their growth and development.



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