New Delhi, March 26 (IANS) Asserting that the Sagarmala project approved by the cabinet on Wednesday will alone lift India's GDP growth by 2 percent, Highways and Shipping Minister Nitin Gadkari on Thursday said at least 12 smart cities and several coastal economic zones will be set up under it.
"Sagarmala project which is a priority project for Prime Minister Narendra Modi has been designed in a fashion that it will see at least 12 smart cities at India's major ports besides special economic zones (SEZs)," Gadkari told reporters here.
Describing the decision as "revolutionary and historical", he said "this project alone will boost India's GDP by 2 percent."
"An allocation of Rs.4,000 crore has been made for the SEZ (special economic zone) at Jawaharlal Nehru Port Trust, which is one of 12 major ports in India under the Sagarmala project, while a coastal economic zone is in the offing at Kandla port which has 2 lakh acres of land in its possession," he added.
The ambitious Sagarmala project intends to enhance the capacity of major and non-major ports and promote port-led direct and indirect development.
Besides smart cities, 1,208 islands have been identified for development to attract tourists, Gadkari said.
He said a National Perspective Plan (NPP) for the entire coastline will be prepared within six months which will identify potential geographical regions to be called Coastal Economic Zones (CEZs).
The Sagarmala project will also boost export-import as well as domestic trade.
"At present Indian ports handle more than 90 percent of India's total export-import trade volume but the current proportion of merchandise trade in GDP is only 42 percent, whereas in Germany and European Union, it is 75 percent and 70 percent respectively," the minister said.
Soon after assuming office, Prime Minister Narendra Modi had proposed the Sagarmala project to connect all coastal cities in the country through road, rail, ports and airports through a special development package. The project is designed to enhance the unique identities of coastal cities in consonance with their sea-side culture.
Speaking at the Growth Net 2015 event here on Thursday, Power and Renewable Energy Minister Piyush Goyal said the government will facilitate building energy efficient and self-dependent smart cities.
"We are focusing on enhancing infrastructure access to water, public transport and renewable energy. However, the processes that we are working on will take time to generate outcomes," he said.
Business of FMCG companies spoiled due to inflation, know how much loss was done
Indian companies making everyday use products (FMCG) faced a slowdown in consumption in urban mar
Dunki Advance Booking: 'Dunki' rang in booking, figure crossed 4 crores, see the collection
Dunki Advance Booking: Shah Rukh Khan is ready to make a splash this year with the film 'Dunki'.
Famous Bollywood actor Salman Khan has been receiving death threats for a long time. The actor on
A hearing is going on in the court regarding whether the fountain present in Gyanvapi Mosque in V
The Delhi High Court has ordered strict adherence to the Kovid protocol in airports and flights.
In the Adani-Hindenburg case, the Supreme Court has constituted a 6-member expert committee
Aaj Ka Mausam The month of October is half over and now cold is going to knock in the country soo
The US Special Operations Forces launched an operation on Thursday morning to target the leader o
US Airstrike on Syria Amid the Israel-Hamas war, the US Army this morning carried out airstrikes
Protests have been going on in Iran since September 16 after the police custody death of 22-year-
