(MENAFN- KNN India) Gandhinagar, Sep 20 (KNN) Prime Minister Modi on Saturday inaugurated and laid the foundation stone for development projects worth over Rs 34,200 crore in Bhavnagar, Gujarat, under the 'Samudra se Samriddhi' initiative.

Addressing the event, the Prime Minister highlighted ongoing service-oriented activities under the national Seva Pakhwada, including blood donation drives, cleanliness campaigns, and over 30,000 health camps across the state.

Focusing on maritime development, Modi announced projects aimed at port-led growth, cruise tourism, and strengthening India's shipbuilding ecosystem.

He highlighted how India's shipping sector had suffered due to flawed policies, resulting in 95 percent of trade being reliant on foreign vessels and an annual outflow of USD 75 billion in shipping payments.

Announcing key reforms, Modi stated that large shipbuilding projects will now receive infrastructure status, facilitating easier access to financing and lower interest rates.

Over Rs 70,000 crore will be invested in initiatives to modernise shipyards, improve technology adoption, and enhance design and quality standards.

He underscored the sector's multiplier effect, noting that shipbuilding supports allied industries such as steel, machinery, electronics, textiles, and IT, creating extensive employment opportunities.

Modi outlined multiple projects across Gujarat, including ports, coastal protection works, renewable energy initiatives, healthcare infrastructure, and road connectivity, as well as the HPLNG Regasification Terminal at Chhara Port and the National Maritime Heritage Complex at Lothal.

He will also conduct an aerial survey of the Dholera Special Investment Region, envisioned as a greenfield industrial city with sustainable and smart infrastructure.

(KNN Bureau)

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