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Time of India
5 days ago
- Business
- Time of India
India aiming to emerge as global maritime hub, says Shipping Minister Sarbananda Sonowal
VISAKHAPATNAM: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Monday inaugurated the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation ( BIMSTEC ) Ports Conclave here, stressing that India aims to emerge as a global maritime hub . Hosted by Visakhapatnam Port Authority (VPA), the two-day conclave is themed as 'Navigating the Future: Blue Economy, Innovation & Sustainable Partnerships', bringing together ministerial delegations, port authorities, maritime experts, and business leaders from BIMSTEC member countries. "Prime Minister's Vision 2030 and 2047 aims to make India a global maritime leader," said Sonowal, addressing the conclave. He said the BIMSTEC Ports Conclave stands as a springboard to unlock the immense potential of blue economy from the Bay of Bengal region. "Under the dynamic leadership of Prime Minister Narendra Modi , India has a "Neighbourhood First" policy and in this sees BIMSTEC nations as key partners in regional prosperity," said Sonowal. Live Events "We want this platform to enhance collaboration among all member nations for strengthening port led industrialisation, digital integration and skill development which in turn boost cruise tourism, and foster coastal economic zones," he said. According to the minister, BIMSTEC member countries--India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand--should aim to create a seamless and efficient network of ports that could serve as engines of growth. Through joint feasibility studies, PPP (Public Private Partnership), and skill development of maritime workforce, Sonowal said BIMSTEC can transform the region into a thriving hub of global trade, tourism, and sustainable economic progress. Further, Sonowal said a BIMSTEC Sustainable Maritime Transport Centre is going to be established under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT) at the Maritime Training Institute in Powai, Mumbai. He inaugurated multiple projects in the port, such as new oil refinery berth-2, fire fighting facilities at OSTT Berth, new port operating system, vessel traffic management system (VTMS) and others. Moreover, he laid the foundation stone for the construction of B-Ramp in the port area, finger jetty and wharf in fishing harbour, two additional breasting dolphins at OSTT and others.
Time of India
6 days ago
- Business
- Time of India
Union Minister Sonowal to inaugurate BIMSTEC ports conclave in Vizag on July 14
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Union Minister Sarbananda Sonowal will inaugurate the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) ports conclave in Visakhapatnam on July two-day event, to be held until July 15, aims to enhance regional maritime cooperation under the BIMSTEC framework, said an official press release."BIMSTEC enhances regional unity through maritime cooperation and trade connectivity," said T Venu Gopal, secretary, Visakhapatnam Port his visit, the Union Minister of Ports, Shipping, and Waterways is also expected to inaugurate completed development projects and lay foundation stones for upcoming port 'Navigating the Future: Blue Economy , Innovation & Sustainable Partnerships', the conclave will bring together ministerial delegations, port authorities, maritime experts, and business leaders from BIMSTEC member from Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand have arrived, along with chairpersons and senior officials from major Indian ports, the release event will feature keynote addresses by prominent BIMSTEC representatives, Indian officials, and technical experts, focusing on port infrastructure, innovation, and sustainable development The conclave is expected to boost Visakhapatnam's position as a strategic maritime hub and strengthen BIMSTEC cooperation in shipping and logistics, Gopal added.
The Print
14-05-2025
- Business
- The Print
Yunus changes tack on India's Northeast, calls for ‘plan for Bangladesh, Nepal, Bhutan & Seven Sisters'
'We are the only guardian of the ocean,' he had said at the time, inviting Chinese investment to Bangladesh, pitching it as a gateway to the region. He went further, suggesting that this geographical placement offered a 'huge possibility' for China and also asserted that the region could become 'an extension of the Chinese economy'. He made the comments Monday during a meeting with Indira Rana, Deputy Speaker of Nepal's House of Representatives, currently in Dhaka to attend an event hosted by the Embassy of Nepal. 'There should be an integrated economic plan for Bangladesh, Nepal, Bhutan and the Seven Sisters. We have more to gain together than apart,' Yunus was quoted as saying. This marks a notable shift from his earlier remarks in March during a visit to Beijing, where he described India's Northeast as 'landlocked'. New Delhi: Following an earlier statement labelling India's Northeast as isolated and 'landlocked' in his investment pitch to China, Bangladesh interim leader Muhammad Yunus appears to have now changed tack—calling for a unified cross-border economic integration plan involving Bangladesh, Nepal, Bhutan, and the 'Seven Sisters' states in India. 'From Bangladesh, you can go anywhere you want. The ocean is our backyard,' Yunus declared. Now, the chief adviser to the interim government in Dhaka is positioning the same geographical region as a potential corridor of shared prosperity, rooted in mutual interests and resource sharing. He further hailed the Bangladesh-Nepal-India Tripartite Power Sales Agreement, signed in October last year, as a promising model for deeper energy integration. The agreement enables the transfer of 40 MW of Nepalese hydropower to Bangladesh via India. His earlier remarks on the Northeast had drawn sharp criticism in India, given their geopolitical implications. India's Minister of External Affairs, Dr. S. Jaishankar, responded by reaffirming the strategic importance of the Northeast within regional frameworks, calling it a connectivity hub for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)—a grouping that includes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. Moreover, his remarks triggered outrage among Indian political leaders, particularly in the Northeast. Following this, in what was seen as a direct rebuke, India's Central Board of Indirect Taxes and Customs (CBIC) canceled a 2020 transshipment agreement that allowed Bangladeshi goods to move through Indian territory en route to Nepal, Bhutan, and Myanmar. 'The transshipment facility extended to Bangladesh had over a period of time resulted in significant congestion at our airports and ports. Logistical delays and higher costs were hindering our own exports and creating backlogs' Randhir Jaiswal, spokesperson for the Ministry of External Affairs, had said at the time. Further, at the BIMSTEC Summit held in Bangkok in April, Prime Minister Narendra Modi acknowledged Yunus with only a brief handshake and used the summit to reinforce that India's Northeast is not a peripheral outpost but a central player in BIMSTEC's future. Tensions escalated further following the Pahalgam terrorist attack, when ThePrint reported controversial comments by retired Bangladeshi Major General A.L.M. Fazlur Rahman. Rahman in a Facebook post suggested that in the event of a war between India and Pakistan, Bangladesh should seize the opportunity to capture India's Northeast with Chinese support. (Edited by Amrtansh Arora) Also Read: Yunus regime's ban on Hasina's Awami League 'concerning', says MEA; calls for polls in Bangladesh
