Indian Economy News

Development at Gujarat port will drive efforts to make India trade hub: Prime Minister Mr. Narendra Modi

  • IBEF
  • October 13, 2022

The Union Cabinet's agreement to build a container terminal at Tuna-Tekra, Deendayal Port in Gujarat, according to Prime Minister Mr. Narendra Modi, is a significant step that will propel India's attempts to become a centre for trade.

The projected cost for the concessionaire is Rs. 4,243.64 crore (US$ 515.67 million), while the estimated cost for the concessioning authority is Rs. 296.20 crore (US$ 36 million) for common user facilities.

In response to other Cabinet decisions, Modi stated that the approval of the Prime Minister's Development Initiative for the North East Region (PM-DevINE) will accelerate the region's growth trajectory and offer a wealth of opportunities for its youth.

The Union Cabinet, led by Mr. Modi, approved PM-DevINE on Wednesday. It is a Rs. 6,600 crore (US$ 802 million) programme to promote infrastructure, businesses, and other livelihood projects in the northeastern states.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.