New Delhi, Oct 16 (IANS): Prime Minister Narendra Modi will on Tuesday inaugurate the Global Maritime India Summit 2023 in Mumbai via video conferencing.

The summit will continue until Thursday at the city's MMRDA Grounds.

On the occasion, Modi will unveil a long term blueprint for the Indian maritime blue economy till 2047.

The blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration.

In line with this futuristic plan, the Prime Minister will also inaugurate, dedicate to nation and lay the foundation stone of projects worth more than Rs 23,000 crore, that are aligned with the blueprint for the Indian maritime blue economy.

On the occasion, he will lay the foundation stone of Tuna Tekra all-weather deep draft terminal, to be built at a cost of more than Rs 4,500 crore at Deendayal Port Authority in Gujarat.

This state-of-the-art greenfield terminal will be developed in PPP mode.

He will also dedicate more than 300 Memorandums of Understanding (MoUs) worth more than Rs 7 lakh crore for global and national partnership in the maritime sector, during the programme.

The Summit is the biggest maritime event in the country.

It will witness participation of ministers from across the globe representing countries from Europe, Africa, South America, Asia (including central Asia, Middle East and BIMSTEC region).

The Summit will also be attended by global CEOs, business leaders, investors, officials, and other stakeholders from across the world.

Further, several Indian states will also be represented in the summit by the ministers and other dignitaries.