Central Economic Zone Under Sagarmala Scheme

• Under the National Perspective Plan of the Sagarmala Programme, fourteen Coastal Economic Zones (CEZ) were envisaged.
• The proposal was taken up with the Department of Expenditure.
• It recommended that the Ministry of Ports, Shipping and Waterways should explore possibility of development of a CEZ with land available with the Major Ports duly taking into consideration other initiatives of Government of India.

Coastal Economic Zones

• The National Perspective Plan of the Sagarmala Programme has identified two maritime clusters for development, one in Tamil Nadu and the other in Gujarat.
• These SEZs are aimed at promoting the development of port proximate industrial clusters, encouraging port-led development, reduction of logistics cost and time for movement of EXIM and domestic cargo and enhancing the global competitiveness of the Indian manufacturing sector.

Sagarmala Scheme

• The Ministry of Shipping in India announced the Sagarmala Program in order to boost the country's logistics industry.
• An investment of 8.5 trillion was committed under this project to build megaports and modernise the existing ports of 14 Coastal Units and Zones.
• Sagarmala concentrated on upgrading Indian ports, which can lead to Indian economic development and boost industry.
• This initiative also focuses on spending less in infrastructure while lowering logistics costs for EXIM and local commerce.
• This project also focuses on unlocking the potential rivers and coastline in order to meet the goals.

Other relevant terms: Satellite port

• It can either be one that is already existing or is created near a port that is reaching capacity.
• Satellite ports help overcome issues such as limited land availability and draft adequacy, which is depth of water to which a ship sinks according to its load.