Mumbai, India: Transport Deputy Minister, Honourable Sindisiwe Chikunga will lead a South African delagation of senior government officials and specialists to the Maritime India Summit 2016 (MIS 2016) to be held in Mumbai from 14 to 16 April 2016.
The Prime Minister of India, His Excellency, Shri Narendra Modi, will inaugurate the Summit today, Thursday, 14 April.
The Summit, whose aim is to promote India’s efforts to develop the maritime sector and attract global investments by showcasing such opportunities that are emerging in the sector, provides South Africa with the opportunity to showcase her stregnth in the maritime field in both the private and public sector.
The Republic’s participation will add significant value to the Summit itself and will also help to enhance the partnership between the two countries, particularly in relation to maritime related matters.
The Maritime India Summit 2016 is a maiden flagship initiative of the Ministry of Shipping of the Government of India that provides a unique platform for participants to explore potential business opportunities in the Indian Maritime sector.
During the Summit, delegates will deliberate in special sessions on investment opportunities in Maritime sector with the focus on ship building, ship repair, ship recycling, dredger / barge manufacturing, setting up of new ports and capacity augmentation of existing ports, development of inland waterways for cargo and passenger transportation, coastal shipping, passenger ferry services, lighthouse and cruise tourism, island development and aquatic resources, maritime cluster development and other services related to Indian Maritime sector.
The Summit will project vast investment opportunities in each of the Indian Maritime States and Union Territories.
India and South Africa have expanded and strengthened relations and concluded numerous bilateral agreements in diverse fileds ranging from economic and commercial coorperation to defence, culture, health, human settlements, public administration, science and technology and education.
As part of South Africa’s development and expansion in the maritime space, the Republic has prioritised Operation Phakisa which is aimed at growing the oceans economy. There is also great potential to increase bilateral inter-trade opportunities through technical collaboration in coastal shipping and maritime commercial navigation.
South Africa is the third largest African investor country in India, with a foreign direct investment (FDI) stock of US$112 million. A number of South African multinational corporations operate in the Indian market and the foreign direct investment to India is growing at a steady pace.
A possible avenue for even greater cooperation between South Africa and India exists in the field of maritme transport, with India having a coastline of 7 517km and inland waterways of 14 426km offering immense potential for development.
Deputy Minister Chikunga and the delegation will join more than 2000 participants, including policy makers, CEOs of Indian and global Maritime industry, senior government officials, industry experts, thought leaders and distinguished speakers from across the world during the Summit.