National Sagarmala Apex Committee

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Context

A meeting of the National Sagarmala Apex Committee was conducted to examine the status of the initiatives under the Sagarmala Project.

What is National Sagarmala Apex Committee?

It is the primary organisation charged with providing policy direction and advice for port-led development as part of the Sagarmala initiative, which intends to harness India's economic development by using its 7,500-kilometer coastline and 14,500-kilometer network of potentially navigable waterways.
The Union Cabinet established it, and the Minister of Ports, Shipping, and Waterways serves as its chairman.
The committee has the authority to examine the development of port-connected highways and rail connectivity projects, as well as the development of floating jetties and inland waterways.
The committee meeting's main goal is to ensure the comprehensive upliftment of coastal communities through innovative programmes like the "Sagartat Samriddhi Yojana," which will help the Sagarmala Project achieve its goals.

What is Sagarmala program?

Sagarmala is a national programme that aims to boost India's economic growth by using the country's 7,500 km of coastline and 14,500 km of potentially navigable rivers.
The Prime Minister announced it in 2014, and the Union Cabinet approved it on March 25, 2015.
With appropriate infrastructure investment, it aspires to lower logistics costs for both domestic and EXIM freight.
The projects under the scheme have been categorized into five pillars:
Port modernization & new port development,
Port connectivity enhancement,
Port-led industrialization,
Coastal community development and
Coastal shipping and Inland water transport

What is the importance of port led development?

Indian ports are a major contributor to the country's fast-growing economy.
In reality, Indian seaports handle over 95% of all goods commerce.
However, as compared to foreign ports, Indian ports continue to underperform in some areas.
So, in order to address all of the concerns and further expand the project, the Ministry of Shipping decided to launch a new programme called the Sagarmala Project.