NEW DELHI : Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal reviewed the progress of Sagarmala Finance Corporation Ltd. (SMFCL) during a high-level meeting with senior ministry officials in New Delhi, reaffirming the government’s commitment to strengthening maritime infrastructure financing and accelerating the country’s transformation into a global maritime powerhouse.
During the review, the Minister assessed the corporation’s operational performance, project pipeline and financial assistance extended to key maritime infrastructure projects across the country. He emphasised the crucial role of SMFCL in mobilising long-term capital for the development of ports, shipbuilding, coastal infrastructure, inland waterways and other strategic maritime assets.
Shri Sonowal highlighted that Sagarmala Finance Corporation Ltd., India’s first dedicated maritime Non-Banking Financial Company (NBFC), is rapidly emerging as a key financial institution supporting the nation’s maritime growth agenda. Since commencing operations, SMFCL has sanctioned more than ₹10,700 crore towards maritime projects, while cumulative disbursements have crossed ₹3,700 crore, facilitating timely execution of critical infrastructure and logistics initiatives.
The Minister noted that the corporation is playing a catalytic role in attracting investments into modern port infrastructure, shipbuilding and repair facilities, coastal shipping, multimodal logistics, maritime industrial clusters and allied sectors. By providing customised financial solutions to both public and private sector stakeholders, SMFCL is helping bridge financing gaps and improving the ease of project implementation across India’s maritime ecosystem.
“Guided by the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi ji, we are reinforcing the financial backbone of India’s maritime sector. SMFCL is emerging as a strong enabler of maritime infrastructure development by supporting investments that enhance port capacity, strengthen coastal connectivity and generate employment. Its growing portfolio reflects the confidence of investors and stakeholders in India’s maritime future,” Shri Sonowal said.
He further stated that the Ministry remains focused on ensuring that financial support reaches priority projects aligned with the objectives of the Sagarmala Programme, Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047. These initiatives aim to modernise port infrastructure, improve logistics efficiency, promote green and sustainable shipping, enhance shipbuilding capabilities and position India among the world’s leading maritime nations.
The Minister directed officials to further strengthen SMFCL’s project outreach, expedite financial approvals and continue supporting commercially viable projects that contribute to economic growth, regional development and the realisation of the vision of Viksit Bharat.
