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Nordic Nations to take part in Sagarmala Project:

GS Paper 3:

Topics Covered: Infrastructure.

 

Context:

Prime Minister Narendra Modi has invited Nordic companies to invest in the Blue Economy sector, including the Sagarmala project and asked the sovereign wealth funds of the Nordic countries to invest in India.

  • As a part of Sagarmala Programme, more than 800 projects at an estimated cost of around Rs 5.48 lakh crore have been identified for implementation.

 

What is Sagarmala?

Nodal Ministry: Ministry of Shipping and Waterways.

Aim: To promote industrial port-led development in the country.

Under the project, Total 14 CEZs are planned to be developed in phases across coastal India.

 

The National Sagarmala Apex Committee (NSAC):

It is composed of the Minister of Shipping with Cabinet Ministers from stakeholder ministries and ministers in charge of ports in India’s maritime states.

 

Six megaports are planned in Sagarmala project:

  1. Sagar Island: West Bengal.
  2. Paradip Outer Harbour: Odisha.
  3. Sirkazhi: Tamil Nadu.
  4. Kanyakumari: Tamil Nadu.
  5. Belikeri: Karnataka.
  6. Vadhavan: Maharashtra.

 

Need for:

The Indian ports play a primary contributing role in this fast-growing economy. In fact, around 95% of merchandise trade passes through Indian seaports.

  • However, the Indian ports still lag in multiple arenas when compared to international ports.
  • So, to finally do away with all the issues and develop it even further, the Ministry of Shipping decided to start a new program – The Sagarmala Project.

 

What are Nordic Nations?

  • The Nordic Countries are a group of countries in northern Europe.
  • There are 5 Nordic countries, Denmark, Sweden, Norway, Finland, and Iceland.

 

Current Affairs

 

Why are Nordic Countries important to India?

  • Nordic countries collectively represent an economy of more than $1.6 trillion.
  • Total bilateral trade in goods and services between India and the Nordic countries is $13 billion.
  • All these countries figure among the top achievers in several areas of human endeavour, particularly innovation, clean energy, green technologies, and education.

 

InstaLinks:

Prelims Link:

  1. About Nordic Nations.
  2. Scandinavian countries.
  3. Sagarmala Project.
  4. Infrastructure development in India.
  5. Major ports in India.

Mains Link:

Discuss the significance of the Sagarmala Project.

Sources: the Print.