India is aiming to attract an investment of Rs 20 lakh crore for its maritime sector under Vision 2047. The investment will be used to increase port handling capacity, develop maritime clusters, and establish hubs for bunkering, ship repair, and Vessel Spares and Stores. Prime Minister Narendra Modi unveiled this vision document and inaugurated projects worth over Rs 23,000 crores for the country’s maritime blue economy. Modi also highlighted the importance of the India-Middle East-Europe Economic Corridor in boosting global trade and reducing business costs.