India Becoming A Major Stakeholder In Global Supply Chain: PM Modi

Prime Minister Narendra Modi declared on Monday that India is becoming a major player in the global supply chain. This expanding role is crucial for the country’s economic growth. Modi spoke during the virtual inauguration of the Tuticorin International Container Terminal in Tamil Nadu.

India is investing over Rs 7,000 crore in developing an Outer Harbour Container Terminal. The capacity of VO Chidambaranar Port, formerly known as Tuticorin Port, continues to increase. Modi stated that VOC Port is set to contribute significantly to India’s maritime development. He highlighted Tamil Nadu’s growing prominence with its three major ports and 17 non-major ports.

The new terminal, dubbed the “new star of India’s marine infrastructure,” features a deep draft of more than 14 meters and a berth over 300 meters long. It is expected to enhance the port’s capacity, reduce logistics costs, and save foreign exchange.

PM Modi also noted the terminal’s commitment to gender diversity, with 40% of its employees being women. This, he said, represents women-led development in the maritime sector.

The Prime Minister praised India for demonstrating sustainable and forward-thinking development. He mentioned that VOC Port is emerging as a Green Hydrogen hub and a nodal port for offshore wind energy.

“Innovation and collaboration are India’s greatest strengths,” Modi said. He projected that this momentum will soon make India the world’s third-largest economy. He highlighted Tamil Nadu’s crucial role in this growth and noted the country’s extensive network of roadways, highways, waterways, and airways, which strengthens its position in global trade.

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