India’s first international maritime cluster to present to GIFT City
The Gujarat Maritime Board (GMB) will set up India’s first international maritime services cluster at GIFT City, the operator and regulator of public ports has informed.
The Maritime Cluster will be developed as a dedicated ecosystem comprising of ports, shipping, logistics service providers and relevant government regulators, all present in the same geographical neighborhood of GIFT City.
Avantika Singh, Vice President and CEO of GMB, said: “This will be a one-of-a-kind commercial maritime services cluster in India, which has been designed to enhance India’s competitiveness and self-sufficiency. in the maritime sector and provide a unique solution for the entire maritime fraternity.
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“GIFT City offers us a homogeneous environment to create a solid maritime fraternity and strengthen its value chain. GIFT City has state-of-the-art infrastructure and world-class banking facilities and institutions, which will be beneficial in fostering innovation, economic viability, collaboration and business opportunities for the cluster, ”she added.
The ease of doing business
The cluster seeks to welcome stakeholders from the maritime industry, including regulators, government agencies, associations and companies in the maritime / maritime industry, intermediary service providers, such as the financing of maritime transport, marine insurance, maritime arbitrators, maritime law firms, among others, and providers of support services, such as maritime education institutes.
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The maritime cluster will also have an Alternative Dispute Resolution (ADR) center, focused on maritime / maritime transport.
“This will ensure economic benefits and ease of doing business for the maritime fraternity, which currently has to depend on international arbitration centers,” said a statement.
Tapan Ray, Group Managing Director and CEO, GIFT City, said: “The creation of a maritime cluster is an essential step in advancing India’s credentials and economic viability in this sector. “
“GIFT City is unique in being India’s first IFSC and the inclusion of such institutions enhances our value proposition,” he said.