Even as the Centre is mulling over a national waterway policy and Kerala has taken the lead with focusing on coastal shipping, a group of entrepreneurs from the region have decided to take steps to promote coastal shipping and inland waterways for the development of the region.

The group of entrepreneurs under the aegis of Gravity 2.0 - Regional Economic Development Forum, has roped in academics, practitioners and potential investors for a half-day investment summit being organised here on June 22.

Director of Indian Maritime University Visakhapatnam campus S C Mishra will deliver the keynote address on the subject and a number of senior officials from Visakhapatnam Port Trust, Visakha Container Terminal Private Limited and other organisations and a clutch of investors keen on coastal shipping are expected to participate.

New opportunities

Environmentally friendly coastal shipping not only slashes transportation costs but also would promote new opportunities in wealth generation and employment.

In a way it would also help revive the interest of the people of the region in a rich tradition, technocrat and founder member of Gravity 2.0 Gopi Bulusu said.

The proposal could kickstart the economic development of the Visakhapatnam-Rajahmundry-Vijayawada region by developing a new industrial ecosystem, he said.

The meet aims to promote the idea and get investors to enter the field which is untapped and has rich potential, he added.