Terming coastal shipping as a top priority for his ministry, minister of state for shipping Mansukh Mandaviya Thursday said the government wants to save Rs 2,500 crore annually by shifting goods movement to sea.

The share of freight transport through the coastal route presently stands at 7 per cent and the government is aiming to increase the same to 10 per cent by 2020 by reducing the share of road, which will result in a saving of Rs 2,000-2,500 crore for the economy, the minister said inaugurating a seminar here.

He added that coastal shipping, wherein goods move between two ports of the country, is a "top most" priority for the government.

Giving an update on the Sagarmala programme, the minister said 89 projects have been completed by investing Rs 89,000 crore, while 436 others entailing an investment of over Rs 4.18 lakh crore are in various stages of development.

The programme envisages investments of Rs 8.78 lakh crore in 600 projects, which will create 40 lakh direct jobs and also reduce logistics costs by up to Rs 40,000 crore.

Welcoming Bangaldesh's go-ahead for the usage of the Chittagong and Mongla Ports for cross-border movement, he said the two facilities will help eastern India, according to an official statement of the government.

The two ports will help goods reach newer markets in Europe and central Asia, he said, adding that it will also advance co-operation between India and Bangladesh in respect of economic, social and cultural ties.

On the Chabahar Port, he said the port being developed with Indian help in Iran will open a route to Afghanistan bypassing Pakistan.

India is aiming to increase its share of the worldwide ship crewing market to 16 per cent from the current 9.35 per cent in the "near future", the official statement quoting the minister said.

State-run Cochin Shipyard has an order book of Rs 8,000 crore at present and a new dry dock to repair LNG vessels, larger aircraft carriers, drill ships, and dry-dock repairs of semi-submersibles, jack-up rigs is targeted to be commissioned by June 2021, he said.

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