Logistics solutions provider Global Ocean Group on Wednesday said the government’s ambitious Sagarmala project will add 2 percent to the country’s GDP.
The Sagarmala project, a progamme aimed at economic development of the country through port-led activities, will boost the GDP by 2 percent, the company said in a statement.
Managing Director, Ocean Group, Brijesh Lohia said, “This project will boost economic activity near coastal locations and establish Coastal Economic Zones (CEZs).”
Kandla Port has been identified as a potential CEZ. The project will redevelop existing port infrastructure through upgrade in port handling equipment and extensive use of IT in improving monitoring and operations of port activity, he said.
The project is expected to enhance shipping and port handling capacity, the company said.
“India offers great potential for developing offshore renewable energy and government has accorded due priority to attract investment in this area. The power generated will feed the coastal activity and also contribute to the national grid,” Lohia said.
Latest posts by Moneycontrol.com (see all)
- India struggles to stay cool amidst global warming: Report - July 17, 2018
- Oil prices ease on potential supply hikes; Trump-Putin eyed - July 16, 2018
- Maharashtra govt to spend Rs 7,300 cr on repair of electricity poles - July 14, 2018