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Significant investment chance in port sector in Bengal

Significant investment chance in port sector in Bengal

The Union Shipping Minister, Sarbananda Sonowal, mentioned on Monday that there’s a significant investment chance of Rs 1 lakh crore (1 trillion rupees) in the port and logistics sector in Bengal.

He expressed his positive outlook towards attracting more interest from investors, both within the country and internationally, during the 2023 Global Maritime India Summit. This event is scheduled to take place from October 17 to 19 in New Delhi.

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Sonowal, who oversees ports, shipping, and waterways, is anticipating the participation of more than 100 countries in the upcoming summit, along with a larger number of attendees compared to the previous 2021 edition. During the conference two years ago, 475 Memorandums of Understanding (MoUs) were signed, amounting to Rs 3.5 lakh crore in value, as highlighted by the minister.

He also emphasized that 75 percent of these MoUs are currently in the process of being implemented. The minister underlined the importance of tapping into investment opportunities in India’s maritime sector, both from domestic companies and those based overseas.

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