India becoming major stakeholder in global supply chain: PM Modi at inauguration of Tuticorin Container Terminal

New Delhi [India], September 16 (ANI): Prime Minister Narendra Modi on Monday said that India is becoming a major stakeholder in the global supply chain and this growing capacity is the foundation of the country’s economic growth.

The Prime Minister, who addressed the inauguration of Tuticorin International Container Terminal via video message today, said innovation and collaboration are India’s greatest strengths on its development journey.

He hailed the new Tuticorin International Container Terminal as the ‘new star of India’s marine infrastructure’.

PM Modi said with a deep draft of more than 14 meters and a berth over 300 meters long, this terminal will play a crucial role in enhancing the capacity of VO Chidambaranar Port

He further added that the new terminal is expected to reduce logistics costs at the port and save foreign exchange for India.

Acknowledging the vital role that Tamil Nadu’s coastline has played in driving India’s economic growth, PM Modi noted “With three major ports and seventeen non-major ports, Tamil Nadu has become a major hub for maritime trade.”

He added that to further boost the port-led development, India is investing over Rs 7,000 crore in the development of an Outer Harbour Container Terminal, and the capacity of the V.O.C. Port continues to grow.

“The V.O.C. Port is ready to write a new chapter in the maritime development of India,” he said.

PM Modi spoke about India’s broader maritime mission, which extends beyond infrastructure development.

“India is showing the world the path to sustainable and forward-thinking development,” he said, pointing out that the V.O.C. Port is being recognized as a Green Hydrogen hub and a nodal port for offshore wind energy. These initiatives will play a significant role in tackling the global challenges of climate change.

“Innovation and collaboration are India’s greatest strengths on its development journey,” the Prime Minister remarked, highlighting that the inauguration of the terminal is a testament to the collective strength.

PM Modi underlined that India is now well-connected with a vast network of roadways, highways, waterways, and airways strengthening the nation’s position in global trade.

“India is becoming a major stakeholder in the global supply chain and this growing capacity is the foundation of our economic growth”, the Prime Minister emphasized. P

He expressed confidence that that this momentum will propel India to become the world’s third-largest economy soon and Tamil Nadu is playing a pivotal role in driving this growth.