Big action for the Indian Shipping sector as the Maritime India Summit will kick-off today. It will be inaugurated by none other than Prime Minister Narendra Modi. In chat with Zee Business Managing Editor Anil Singhvi, Executive Editor Swati Khandelwal reveals what lies in store. 

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Memorandum of Understanding (MoUs) worth Rs 3.4 lakh cr are likely to be signed over the next two days with the numbers going as high as 490, she said. This includes MoUs related to shipping, ports, ports trusts. 

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Khandelwal said that this Maritime Summit is big for two Indian companies – Cochin Shipyard Limited and Shipping Corporation of India (SCI). 

Cochin Shipyard is likely to sign 9 MoUs worth Rs 3050 cr while SCI is also likely to sign as many MoUs worth Rs 6307 cr, she further said. 

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The Summit will enable big investments in the sector and is at a very large scale, she said. 

These are the two major PSUs that will see big action. 

The Stocks of Cochin Shipyard were trading up by over 8 per cent around 10 am while those of SCI were up by over 14 per cent. 

Commenting on this, the Market Guru said that this is the first time that a Summit of this magnitude is happening in this sector. He also lauded the way in which this Ministry and even other Government companies were working. 

Khandelwal also said that the Dredging Corporation of India will also be signing 18 MoUs worth Rs 14,000 cr. 

The Executive Editor also said that there were many unlisted companies too. The government’s intention is to privatise and maximise the value of public assets, she said.