Indian PM Modi inaugurates Rs88b Vizhinjam port in Kerala
Indian Prime Minister Narendra Modi inaugurated the first phase of the Vizhinjam International Deepwater Multipurpose Seaport, valued at Rs88 billion, on Friday.
The prime minister said that 75 per cent of India's transhipment operations were conducted at foreign ports, resulting in significant revenue loss for the country.
He asserted that this situation is set to change and that funds that once flowed outside the country will generate new economic opportunities for the people of Kerala.
One of the port's most remarkable features is its natural deep draft of nearly 20 metres, the deepest among all ports in India.
This exceptional depth enables it to accommodate all vessels, including ultra-large container ships and bulk carriers, which require significant draft to operate efficiently.
Vizhinjam is the closest Indian port to the busiest international shipping routes along the trade corridor connecting Asia, Europe, and Africa.
The geographical advantage allows for reduced transit times and improved logistics efficiency, facilitating relatively quicker turnaround times for shipping operations.
'Vizhinjam has now emerged as a symbol of modern development,' Modi said, congratulating the people of Kerala and the entire nation on the achievement.
'The capacity of this transhipment hub will triple in the coming years, allowing for the smooth arrival of some of the world's largest cargo ships.'
He underscored Kerala's crucial role in this maritime strength and economic growth, emphasising the state's historical significance in maritime trade.
Through the Arabian Sea, India maintained trade links with multiple nations, with ships from Kerala carrying goods and establishing it as a vital hub for global commerce.
'Today, the Government of India is committed to further strengthening this channel of economic power,' he said. 'India's coastal states and port cities will become key centres for the growth of a developed India.'
He said the port economy reaches its full potential when it combines infrastructure and ease of doing business. Over the past ten years, this has been the blueprint of India's port and waterways policy.
He emphasised that the government is intensifying efforts to boost industrial activities and achieve holistic development across states. He noted that India has upgraded port infrastructure and significantly improved connectivity.
Waterways, railways, highways, and airways are being rapidly integrated to ensure seamless connectivity.
He highlighted that these reforms, which aim to ease the business environment, have attracted greater investment in the ports and infrastructure sectors.
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