Government is looking to harness the country's 50 thousand kilometres of sea and river fronts as waterways. Talking to media, Shipping Minister Nitin Gadkari said government is mulling innovative ways of financing to raise around 70 thousand crore rupees to develop these stretches. He said besides budgetary support, multilateral funds, public-private-partnership and market borrowing would be explored to raise the amount. <br/><br/>Parliament by passing the crucial National Waterways Bill to declare 111 rivers across the country into National Waterways last week has paved way for development of these stretches as transport carriers. So far, only five of the river stretches were declared as National Waterways. <br/><br/>The Minister said India has the unique advantage of 7,500 km of coastline in 14 states with 14,500-km of potentially navigable waterways. In addition, 116 rivers across the country provide 35,000 km of navigable stretches. Mr Gadkari said the government is committed to develop them as environment-friendly mode of transport which is bound to decrease the huge 18 per cent logistics cost in the country significantly.