India’s maritime global trade to get a boost with proposed Great Nicobar project: Shah, Pg10

Key Highlights:

• Union Home Minister Amit Shah announced plans to make India a top five ship-building nation and increase port-handling capacity at India Maritime Week 2025.
• The Great Nicobar project, valued at $5 billion, aims to boost India’s maritime global trade but faces criticism over environmental concerns.
• India aims to increase its port handling capacity to 10,000 MTPA from the current 2,700 MTPA.
• Over 100 countries, 350 speakers, and 500 companies participated in the India Maritime Week, with expected investments of ₹10 lakh crore.

Detailed Insights:

• India's extensive coastline of over 11,500 km across 13 coastal States contributes significantly to its maritime strength and 60% of its GDP.
• The Great Nicobar infrastructure project includes a power plant, transshipment port, and airport, but it has raised concerns among activists and the local population regarding environmental impact and forest rights.
• The government aims to reduce logistics costs to a single digit of 9%, compared to the current 16%, to align with China's 8% and Europe's 12%.
• India is leveraging its maritime position, democratic stability, and naval capability to act as a bridge between the Indo-Pacific and the Global South, promoting development, security, and environmental progress.
• During India Maritime Week, approximately 680 MoUs worth ₹10 lakh crore are expected to be signed, indicating significant investment and collaboration in the maritime sector.

Key Concepts Involved:

• Transshipment Port: A port that serves as an intermediate transfer location for goods being shipped to other destinations.
• MTPA (Million Tonnes Per Annum): A unit of measurement for the annual handling capacity of ports.
• GDP (Gross Domestic Product): The total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.