Prime Minister Narendra Modi on Thursday inaugurated the Maritime India Summit 2016, which is being held in Mumbai. Addressing the crowd of delegates, CEOs and experts from 41 countries, Modi said his government plans to restore “India’s eminent position in the global maritime sector”, reported ANI. This was the first ever summit that seeks to attract investors for maritime projects.

The first of the event's three days coincided with the 125th birth anniversary of Dr BR Ambedkar. Invoking the Dalit icon, Modi said Ambedkar was not only the architect of the Indian Constitution, but was also the man behind the water and irrigation navigation policy of the country. "Babasaheb had emphasised the importance of new waterways policy to lay the foundation of a regime of prosperity for the millions of poor of India," Modi said.

“We Indians are inheritors of a glorious maritime heritage. Maritime transport can be the most extensive mode of transport. It is also the most eco-friendly,” he said, adding that the performance of major ports in the country has been remarkable in the past two years. He said the National Democratic Alliance government at the Centre plans to increase port capacity from 1,400 million tonnes to 3,000 million tonnes by 2025. The government also intends to deploy modern and sophisticated fishing vessels to help the industry grow. The Centre expects to mobilise Rs 1 lakh crore from the event.