Latest news with #Sonowal
Time of India
18 hours ago
- Business
- Time of India
PM's leadership transformed NE, says Sonowal
Dibrugarh: Union minister of ports, shipping & waterways Sarbananda Sonowal emphasised the transformative impact of PM 's leadership on India's development trajectory, particularly highlighting the unprecedented progress made in Assam and the Northeast region during a party meeting at Tiloi, Moran in Dibrugarh on Friday. Tired of too many ads? go ad free now Addressing party workers, he credited Modi's decade-long tenure with elevating India's global economic standing and bringing peace and prosperity to northeast, a region he claimed had been historically neglected earlier. under previous administrations. "Under the visionary leadership of Prime Minister Narendra Modi, Assam and the entire Northeast have reached new heights of development. The BJP is now the party of the people's hope and trust. It is this party that empowered a grassroots worker like me, and I have dedicated myself wholly to its service," Sonowal said. The Union Minister highlighted India's remarkable economic ascent under Modi's governance, pointing to the nation's rise from the world's tenth-largest economy to the fourth-largest. "The remarkable progress India has made over the past 11 years would have been unthinkable before 2014. From being the tenth-largest economy, India has risen to become the fourth-largest globally—and we are on track to enter the top three by 2030," Sonowal stated. Sonowal praised Modi's focus on the Northeast region, contrasting the current government's approach with previous administrations. "PM Modi has focused on the development and progress of the Northeast more than any other Prime Minister in Indian history. Tired of too many ads? go ad free now It is his untiring effort that has resulted in unprecedented progress in a peaceful environment," he said. The Minister highlighted the increased capital allocation for the Northeast in the Union Budget 2025-26 as evidence of the Centre's commitment to regional development. "This reaffirms the Centre's commitment to development and ensures faster connectivity and long-term prosperity. Despite decades of misrule, corruption, and violence under Congress, the Modi government has ushered in a new era of peace and progress," Sonowal said. Drawing sharp contrasts with the Congress party's governance record, Sonowal criticised the opposition's approach to national development. "The Congress lacked national character and failed the nation with its apathy. The BJP government, on the other hand, has ensured social justice and inclusive development," he said. The Union Minister cited several flagship government initiatives as examples of successful policy implementation, including Digital India, Make in India, Skill India, Start-Up India, and Stand-Up India programs. "Today, India is the world's fastest-growing major economy. Our cities and villages are thriving," Sonowal noted. Addressing women's empowerment initiatives, Sonowal highlighted the government's focus on gender-inclusive development policies. "Under PM Modi, we have launched several women-centric schemes that are reshaping India's socio-economic landscape. Empowering women, youth, and farmers is key to making India a global power," he stated. The Minister called upon BJP workers to intensify their grassroots engagement efforts to ensure government benefits reach every household. "We must take the good work of our government to every household. Listening to people, serving them with honesty, and committing ourselves to a developed India by 2047 must be our guiding mantra," Sonowal urged. Concluding his address, Sonowal reiterated the party's commitment to inclusive national development. "Let us reaffirm our commitment to building a developed, self-reliant India through inclusive progress in every village and every corner of our nation," Sonowal said.
Time of India
2 days ago
- Business
- Time of India
India launches first maritime NBFC to boost port, shipping and blue economy sectors
Union minister Sarbananda Sonowal launches key tech initiatives to boost efficiency, productivity in major maritime digital push. NEW DELHI: In a major push to strengthen India's maritime economy, Union minister Sarbananda Sonowal on Thursday launched the country's first sector-specific Non-Banking Financial Company (NBFC), Sagarmala Finance Corporation Ltd (SMFCL). The corporation, which was formerly known as Sagarmala Development Company Ltd, has now been registered as an NBFC with the Reserve Bank of India (RBI) as of June 19, the Ministry of Ports, Shipping and Waterways confirmed. 'SMFCL will bridge crucial financing gaps and offer sector-specific financial solutions, empowering ports, MSMEs, startups, and institutions,' said Sonowal at the launch. 'This has been a long-standing demand of the maritime industry and aligns with our Maritime Amrit Kaal Vision 2047.' A financing engine for India's maritime future As a specialised financial entity, SMFCL will offer short-, medium-, and long-term funding tailored to the maritime sector. The beneficiaries include port authorities, shipping firms, maritime startups, MSMEs, and even educational institutions focused on maritime studies. Beyond traditional shipping and port logistics, the NBFC will also support strategic growth areas like shipbuilding, cruise tourism, renewable energy, and maritime education. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Vision 2047 and Viksit Bharat The launch of SMFCL fits squarely into India's broader Maritime Amrit Kaal Vision 2047, which aims to make India a global maritime leader and a key node in global trade and logistics. With its new financial arm, the government hopes to unlock stalled infrastructure projects, fuel innovation, and contribute to national logistics efficiency. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hindustan Times
20-06-2025
- Business
- Hindustan Times
Coordinated efforts crucial to complete port projects in Maharashtra: Sonowal
Mumbai, Union Minister Sarbananda Sonowal on Friday emphasised the need for coordinated efforts between Central and state departments to expedite the completion of key port projects in Maharashtra. Coordinated efforts crucial to complete port projects in Maharashtra: Sonowal Chairing a joint meeting of central and state officials on port and coastal development in Mumbai, the Union Minister for ports, shipping, and waterways underlined the strategic importance of Maharashtra's maritime infrastructure and called for fast-tracking approvals for ongoing and proposed projects. State Minister for Fisheries and Ports Nitesh Rane, who also addressed the meeting, described the joint consultation as a "positive step" towards the state's coastal development and stressed the importance of timely permissions from Central agencies to ensure efficient execution and cost-effectiveness. "The meeting was held to coordinate between Central and state-level marine institutions. There was a detailed discussion on developing coastal infrastructure in Maharashtra. Sonowal ji directed officials to ensure that Central and state government agencies work in coordination to expedite the completion of projects in Maharashtra," he said. Senior officials from the concerned departments were present at the meeting. Sonowal said, "There are immense opportunities in the maritime and industrial sectors. Projects in the port sector of Maharashtra are crucial and should be fast-tracked with prompt approvals. Projects linking ports with rail and road networks should also be prioritised." He further stated that all projects approved under the Sagarmala programme in Maharashtra should be completed by 2026. Minister Rane said that better inter-departmental coordination would help secure approvals in a timely manner and reduce bureaucratic delays. "With smoother approvals, projects can be completed on schedule and within budget. Today's meeting was fruitful and is expected to give a major push to port development works in the state," he said. Key projects, including the Vaibhavwadi-Kolhapur railway project, Anandwadi port, Ro-Ro ferry services, water taxi initiatives, inland waterways, and jetty-related concerns, were discussed during the meeting. This article was generated from an automated news agency feed without modifications to text.
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Business Standard
18-06-2025
- Business
- Business Standard
Atmanirbharta in shipping a key goal of maritime policy: Sarbananda Sonowal
Between engagements with Japan, Norway, and Denmark, Shipping Minister Sarbananda Sonowal is on a global outreach to put India's fledgling shipping sector on the world map. Back from Norway—where he inaugurated the Nor-Shipping trade fair—the minister told Business Standard in an interview that India is actively pursuing self-reliance, or Atmanirbharta, in shipping, and has initiated multiple joint ventures between Indian shipyards such as Cochin Shipyard and leading global private sector shipbuilders. 'During the visit, India and private sector maritime players explored the scope of collaboration to further strengthen the shipbuilding ecosystem and build partnerships to manufacture maritime equipment and machinery in India, aligned with the Make in India initiative. India's strong shipbuilding capabilities must be sustained through cleaner and greener technologies, and towards this end, multiple MoUs were signed to transfer knowledge that empowers us to elevate our position,' Sonowal said. The government is looking to Europe for innovation in shipping and ship manufacturing, while simultaneously engaging major shipyards in Asia to establish operations in India. Earlier this year, following a series of Budget reforms, Gujarat's Deendayal Port issued a tender to establish a shipbuilding cluster in Kandla, aimed at attracting foreign players. However, the tender saw minimal response, with only one bidder. 'The Indian shipbuilding industry will need to develop its capabilities in terms of modern technologies and processes. This can be achieved through collaboration with foreign shipbuilders, and both private sector and PSU shipyards are actively pursuing this,' the minister noted. According to Sonowal, recent deliberations became opportunities to reinforce India's business-friendly stance in what is a highly capital-intensive sector. On whether evolving geopolitical dynamics have influenced India's strategy, Sonowal said: 'The global geopolitical situation is constantly evolving, and amidst this flux, our unwavering focus is to safeguard the future of India's maritime industry, reduce dependency, and ensure Atmanirbharta in shipping. We are committed to ensuring the sector remains growth-focused, strong, and seamlessly integrated into the global maritime ecosystem—aligned with national priorities and attuned to international opportunities.' On discussions with Norway, the minister said he engaged with industry leaders and explored a range of bilateral opportunities, including the potential for increased employment of Indian seafarers in the Norwegian fleet. Currently, around 10 per cent of Norwegian ships are being built in India. Smart Islands in Lakshadweep, Andaman The minister also met Terada Yoshimichi, Japan's Vice-Minister for International Affairs, and officials from the Ministry of Land, Infrastructure, Transport and Tourism. He said plans to develop India's islands into smart islands were on the agenda during bilateral deliberations. 'We explored expanding ties between Indian and Japanese shipyards, including Greenfield investments such as Imabari Shipbuilding in Andhra Pradesh. We identified opportunities for co-developing ports and maritime clusters as clean energy hubs. I conveyed India's interest in joint ventures with leading Japanese shipbuilders—Imabari, JMUC, Kanagawa Dockyard, and Mitsubishi Heavy Industries—and invited NYK Line, MOL, and K Line to invest in next-generation sustainable maritime technologies,' Sonowal said.
News18
16-06-2025
- Business
- News18
Water Metro Coming To Patna? Sonowal Floats Ganga Mobility Plan Ahead Of Bihar Polls
Last Updated: Patna set to join Kochi in launching modern water metro services as part of Ganga transport revival. Water metro services will soon begin in Patna, Shipping Minister Sarbananda Sonowal announced on Monday, stating that the city will become a hub of the inland water transport system on the Ganga. The announcement was made with a few months left for the state's assembly elections. Addressing a consultation meeting here on the development of inland water transport in UP, Bihar, Jharkhand and West Bengal, Sonowal said the Modi government was committed to harnessing the full potential of river systems for cargo, tourism and local livelihoods. 'The water metro system will connect both banks of the river and offer a clean, efficient, and modern urban mobility solution for Patna. The National Inland Navigation Institute is being upgraded as a centre of excellence with fresh investment," he said. 'Over the last 11 years, the visionary leadership of PM Narendra Modi has made India's inland waterways vibrant engines of green growth and connectivity. The National Waterway 1, spanning UP, Bihar, Jharkhand and West Bengal, stands at the heart of this revival. We are committed to harnessing the full potential of our river systems for cargo, tourism and local livelihoods. Bihar, blessed by the sacred Ganga, is poised to emerge as a key inland waterways transport hub," he added. The Centre is working hand-in-hand with all states on NW 1 to make inland water transport a pillar of India's sustainable, multimodal future, Sonowal said, maintaining that rivers are now the lifelines of the country's economy. 'As part of the National Waterway 1, stretching 1,390 km from Varanasi to Haldia, Bihar will see the development of two terminals in Patna, along with the establishment of a vessel repair and manufacturing centre along the Ganga," he said. 'Sixteen community jetties will be constructed across various districts, and Kalu Ghat will be developed into a state-of-the-art waterway centre. A dedicated task force will be formed to explore further possibilities for inland navigation and water-based commerce in 12 districts along the Ganga river in the state," he said. Sonowal said the development of NW 1 will create jobs, boost tourism, and make Bihar a key player in India's economic growth. The Inland Waterways Authority of India (IWAI) is at present conducting 10,000 km of longitudinal surveys per month to assess Least Available Depth (LAD), with coverage set to expand from 11 states in 2024 to 22 states and four Union Territories by 2027, he said. The meeting was attended by Union Textiles Minister Giriraj Singh, Bihar's Deputy CMs Samrat Chaudhary and Vijay Kumar Sinha, UP's Transport Minister Dayashankar Singh, West Bengal's Waterways and Irrigation Minister Manas Ranjan Bhunia, and IWAI Chairman Vijay Kumar. First Published: June 16, 2025, 23:05 IST
