India to invest Rs 60,000 crore/USD 7,22 billion in river cruise tourism and new vessels by 2047

   January 11, 2024 ,   Cruise Industry

Union Minister Sarbananda Sonowal announced a commitment to infuse Rs 60,000 crore (~US$7,22 billion) by 2047 into the realm of river cruise tourism and the advancement of environmentally friedly vessels.

During the inaugural session of the Inland Waterways Development Council, Mr Sonowal articulated a plan to allocate Rs 45,000 crores towards augmenting the river cruise capacity from 2 lakh (200,000) to 15 lakh (3 million) guests by 2047.

He elucidated that an additional Rs 15,000 crore would be channeled over the next decade into eco-friendly transport, with the goal of building ~1000 vessels, including ferries.

The grand vision encompasses a cumulative investment of Rs 60,000 crores by 2047, facilitated through the public-private partnership (PPP) model.

The Minister of Ports, Shipping, and Waterways emphasized the multifaceted positive impact, stating,  that these initiatives will be "instrumental in creating numerous employment opportunities."

The council meeting, attended by representatives from almost 20 states and Union territories, marked the unveiling of the River Cruise Tourism Roadmap for the year 2047 and the Harit Nauka standards delineating the transition to environmentally sustainable inland vessels.

Sonowal spearheaded the comprehensive day-long discussions aboard a cruise vessel, orchestrating efforts to streamline and propel the development of waterways in collaboration with central government and state agencies. The agenda encompassed crucial topics such as private sector engagement, fairway development, and the implementation of best practices. Discussions also delved into augmenting cargo transport efficiency in Inland Water Transport (IWT), fostering the proliferation and development of eco-friendly vessels for guest transportation, and exploring the economic dividends of river cruise tourism.

An official from India's Inland Waterways Authority disclosed the attendance of the West Bengal Transport secretary at the meeting. Acknowledging the state's appeal for assistance in dredging certain rivers, the official affirmed their commitment to aiding in dredging activities and constructing ~20 community jetties, which would be subsequently handed over to the state.