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Sagarmala project to boost GDP by 2 pc: Ocean Group

PTI:  July 20, 2017

New Delhi: Logistics solutions provider Global Ocean Group today said the government's ambitious Sagarmala project will add 2 per cent 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 per cent, 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.

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