India makes ₹2 Trillion investment to its maritime sector

NEW DELHI : One of the major goals is to make India one of the top 5 shipbuilding nations by 2047, with plans to expand shipbuilding capacity by adding 4 million Gross Registered Tonnage (GRT). To support this ambition, policies and skill development initiatives are being formulated, with increased collaboration between the central and state governments.

The ministry has also laid out a roadmap for a greener, more sustainable shipping industry. This includes the establishment of the Bharat Container Shipping Line under the Shipping Corporation of India (SCI) and the development of a Coastal Green Shipping Corridor, beginning with the Kandla-Tuticorin route.

Additionally, the Harbour Craft Green Transition Programme aims to encourage clean energy adoption across Indian ports. Within the next three months, all major ports will be required to tender for at least one green tug, further supporting the push for sustainability.

Further, the Inland Waterways Authority of India (IWAI) is investing ₹100  to improve infrastructure on three National Waterways in Jammu & Kashmir, specifically the Rivers Chenab, Jhelum, and Ravi, which will boost inland water transport and connectivity in the region.

The government is also focused on modernizing port infrastructure, enhancing port connectivity with hinterlands, and fostering a more efficient maritime ecosystem.

To drive innovation, the government will launch the Sagarmala Startup and Innovation Initiative (S2I2) and establish Maritime Innovation Hubs (MIHs). The Sagarmala Digital Centre of Excellence, in collaboration with the Centre for Development of Advanced Computing (C-DAC), will focus on the digital transformation of the maritime sector, improving efficiency and competitiveness.

Moreover, the Mumbai International Cruise Terminal is set to commence commercial operations by April 2025, and India Ports Services Limited (IPSL) will be established as a national platform to provide end-to-end services across major ports, further enhancing port efficiency and attracting foreign investment.