The government is aiming to attract investment worth Rs 3.39 lakh crore during Maritime India Summit 2021 in various projects.

Prime Minister Narendra Modi is scheduled to inaugurate Maritime India Summit 2021 (MIS 2021) on Tuesday, which will be held virtually and is likely to be participated by many nations, including Russia, Uzbekistan, Qatar, Denmark, Iran, Afghanistan, and Armenia.

 "The Ministry of Ports, Shipping, and Waterways (MoPSW) is in process of finalising more than 487 MoUs for investments worth approx Rs 3.39 lakh Crore," the government said in a statement on Monday. These are likely to be signed during the second edition of the Maritime India Summit to be held from March 2 to 4. These MoUs will be signed with different coastal states and stakeholders of the sector. These agreements are focused on attracting investment, skilling, and generating employment in the sector, the statement said.

The signing of these MoUs will help in streamlining the process of ship maneuvering, resulting in more business to the ports and economic stability to the sector and its stakeholders, it said.

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