Govt to mobilise Rs10 trillion investment under Sagarmala

Under its ambitious Sagarmala project, the government is looking to mobilise at least Rs 10 lakh crore investment, including Rs 4 lakh crore in the infrastructure sector alone. Sagarmala is a project unveiled by the Narendra Modi government that aims to accelerate economic development by harnessing the potential of India’s 7,500 km coastline. 

“Sagarmala NPP (national perspective plan) envisages viable infrastructure investment worth Rs 4 lakh crore and industrial investment worth 6 lakh crore,” Road Transport, Highways and Shipping Minister Nitin Gadkari said. The project holds significance in the wake of maritime logistics being an important component of the Indian economy accounting for 90 per cent of EXIM trade by volume and 72 per cent of EXIM trade by value.

Meanwhile, the government has sought comments from various stakeholders on the national perspective plan of Sagarmala under which it has identified about 150 projects.