Govt identifies 1,537 projects worth Rs 6.5 lakh crore under Sagarmala programme

New Delhi, May 6 (PTI) With focus on port-led development, more than 1,500 projects worth around Rs 6.5 lakh crore have been identified for implementation as part of the Sagarmala programme, Union minister Sarbananda Sonowal said on Friday.

Sonowal further said that container turnaround time at major ports has also reduced due to the Sagarmala programme.

"As many as 1,537 projects at an estimated cost of around Rs 6.5 lakh crore have been identified for implementation as a part of the Sagarmala programme," he said in a press conference after chairing the meeting of the National Sagarmala Apex Committee (NSAC).

The Minister for Ports, Shipping and Waterways said that the government is working for holistic development of 75 coastal districts of the country.

The committee reviewed the Sagarmala programme and the progress of port-linked road and rail connectivity projects, development of floating jetties and inland waterways.

The meeting was attended by Minister of Road Transport and Highways Nitin Gadkari, Minister of Commerce and Industry Piyush Goyal, Minister of Civil Aviation Jyotiraditya Scindia and Minister of Railways Ashwini Vaishnav, among others.

Sagarmala programme is aimed at accelerating economic development in the country by harnessing the potential of India's 7,500 kilometres long coastline and 14,500 kilometres of potentially navigable waterways announced by the prime minister in 2014 and approved by the Union Cabinet on March 25, 2015.

Speaking at the meeting, Gadkari said India's logistic cost is around 14 -16 per cent, while the logistic cost in China is around 8 per cent, and in case of European countries, it is 12 per cent.

"If we reduce our logistic cost to 8 per cent then it will help in accelerating our economic growth," Gadkari added.