Why in News? 

India has made significant strides in global logistics, securing the 22nd rank in the International Shipments category and 38th overall in the World Bank’s Logistics Performance Index (LPI) 2023. 

• Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal, while addressing the Rajya Sabha, highlighted India's growing global maritime presence, emphasizing the remarkable improvement in Turn Around Time (TAT) at Indian ports, which now stands at 0.9 days. 

Maritime Amrit Kaal Vision 2047: A Roadmap for the Future 

The government has also unveiled the Maritime Amrit Kaal Vision 2047, aligning with the Blue Economy principles. The vision aims to transform India’s maritime sector through: 

• Port Expansion – Developing new ports and upgrading existing ones 
• Automation & Digitization – Enhancing operational efficiency 
• Green Initiatives – Establishing hydrogen hubs and promoting sustainable practices 
• Coastal Tourism Boost – Developing islands and cruise infrastructure 
• Skill Development – Strengthening workforce training 
• Global Leadership in Shipbuilding – Increasing India’s shipping tonnage 

₹10 Lakh Crore Investment Commitments at GMIS 2023 

The Global Maritime India Summit (GMIS) 2023 witnessed investment commitments worth ₹10 lakh crore, including 360 MoUs valued at ₹8.35 lakh crore and additional investible projects worth ₹1.68 lakh crore.