Srinagar (Jammu and Kashmir) [India], March 9 (ANI): The Inland Waterways Authority of India (IWAI) will invest Rs 100 crore in three national waterways in Jammu and Kashmir, aiming to boost inland water transport and connectivity in the Union territory, the Ministry of Ports, Shipping and Waterways said in a statement.

The Inland Waterways Authority of India (IWAI) is the country's nodal agency for developing national waterways.

An MoU was signed between the IWAI and the Government of Jammu and Kashmir to boost river cruise tourism.

The proposed Rs 100 crore investment will be used to develop infrastructure for smooth transportation on the Rivers Chenab (NW-26), Jhelum (NW-49), and Ravi (NW-84).

'This initiative seeks to enhance tourism, create jobs, and drive economic growth in the region in line with Prime Minister Shri Narendra Modi's Vision of 'Viksit Bharat',' the ministry said in a statement late Saturday evening.

The MoU was signed in the presence of Union Shipping Minister Sarbananda Sonowal; Union Minister of State Shantanu Thakur; J&K Minister Satish Sharma, Secretary, Ministry of Ports, Shipping and Waterways, TK Ramachandran; and IWAI Chairman Vijay Kumar.

The Ministry of Ports, Shipping, and Waterways (MoPSW) organised a two-day 'Chintan Shivir, 2025' in Srinagar with a vision to evaluate, reset, discover, and apply solutions to unlock the potential of India's Blue Economy.

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal reviewed his ministry's ongoing projects--worth Rs 2 trillion--and outlined a goal of completing at least 150 projects by September 2025.

The Union Minister reemphasised India's vision to be among the top 5 shipbuilding nations by 2047, with an additional shipbuilding capacity of 4 million Gross Registered Tonnage (GRT). He directed the formulation of suitable policies and skill development initiatives while encouraging collaboration with the State governments. (ANI)