Gujarat Maritime Board to set-up India’s first International Maritime Services Cluster at GIFT City

by 7, Jun, 2021Innovation, Maritime 4.0, Market News0 comments

Image used for representational purposes only (Image Courtesy: Gujarat Maritime Cluster)

Gujarat Maritime Board (GMB) will be setting up India’s first international maritime services cluster at GIFT City. The Maritime Cluster will be developed as a dedicated ecosystem comprising of Ports, Shipping, Logistics services providers and pertinent Government Regulators, all present in the same geographic vicinity (i.e. GIFT City). The cluster will further leverage the proximity and accessibility of these stakeholders to enable a synergetic collaboration.

Welcoming the new cluster, Tapan Ray, MD & Group CEO, GIFT City, said, “Establishing a maritime cluster is a much-needed step towards advancing India’s credentials and economic viability in this sector. We are delighted that India’s first international maritime cluster will be located in GIFT City which will help in realising the full potential of India’s marine prowess. GIFT City has the unique distinction of being India’s first IFSC and inclusion of such institutions enhance our value proposition. GIFT City will provide a conducive ecosystem for the Gujarat Maritime Board to collaborate and innovate.”

Speaking about the development, Avantika Singh, Vice-Chairman & CEO, GMB said, “This will be first of its kind commercial maritime services cluster in India which has been conceptualized to enhance competitiveness and self-sufficiency of India in the maritime sector and provide one stop solution for entire maritime fraternity. GIFT City provides us with a seamless environment to create a robust maritime fraternity and strengthen its value chain. GIFT City has state-of-the art infrastructure and world-class banking facilities and institutions, that will be beneficial for fostering innovation, economic viability, collaboration and business opportunities for the Cluster. We welcome maritime fraternity to take advantage of this platform and participate in this initiative.”

The Cluster intends to host an array of maritime industry players, such as key regulators/ government agencies to ensure ‘Ease of Doing Business’ for the cluster members; maritime/shipping industry Associations and businesses; intermediate services providers, such as Shipping Finance, Marine Insurance, Maritime Arbitrators, Maritime Law Firms, etc.; and support Services Providers, such as Maritime Education Institutes, etc..

The Maritime Cluster also intends to house an Alternate Dispute Resolution (ADR) Centre, focused on maritime / shipping. This shall ensure economic benefits and ease of doing business for the maritime fraternity, which currently has to depend on International Arbitration Centers. The state of the art campus of Gujarat Maritime University – a premier institute for maritime education in India, is also coming up at the GIFT City

Gujarat Maritime Board (GMB) – a Government of Gujarat undertaking, and the first maritime board of India was set up in 1982 and is responsible for development, administration, operation and regulation of the 48 Non-Major Ports as well as for development of other maritime / shipping activities in the state of Gujarat. The non- major ports of Gujarat have handled 388 MMT of traffic in the year 2020-21 boasting a lion’s share of 30 % in total national maritime throughput.

GIFT City is India’s first operational smart city and International Financial Services Centre (IFSC), GIFT City is an emerging global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity.

Sea News Feature, June 7