GANDHINAGAR: India is steadily strengthening its position as a leading global maritime power, with the Government focusing on modern port infrastructure, a stronger shipping fleet, skilled seafarers and a globally competitive maritime ecosystem, Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal said and highlighted India’s maritime transformation, growth in shipping, seafaring and ship recycling.
The Minister was the Chief Guest at the India Ship Leasing and Financing Summit 2026, organised by the International Financial Services Centres Authority (IFSCA), where he highlighted India’s maritime transformation and the country’s long-term vision for becoming a global hub for maritime activities.
Addressing the summit, Shri Sonowal traced India’s maritime journey from the Sagarmala programme, which has driven port-led development, improved connectivity and strengthened coastal infrastructure, to the strategic milestones envisaged under Maritime India Vision 2030 and the long-term roadmap of Maritime Amrit Kaal Vision 2047.
The Minister said that India has made significant progress in strengthening its maritime capabilities in recent years. Modernisation of ports, expansion of cargo-handling capacity, growth in shipping tonnage and the development of the country’s seafaring workforce are contributing to India’s emergence as a stronger player in the global maritime economy.
A key highlight of India’s maritime progress has been the growth of its seafaring workforce. India has emerged as the world’s second-largest seafaring nation, reflecting the country’s expanding contribution to the global maritime workforce and its strong pool of trained maritime professionals.
India has also strengthened its position among the world’s leading ship-owning nations, while making a major breakthrough in ship recycling. The country has emerged as the world’s number one ship recycling nation, with its share of global ship recycling tonnage increasing by nearly 60 per cent to 2.99 million Gross Tonnes.
Notably, this milestone has been achieved five years ahead of the target set under Maritime India Vision 2030, underscoring the pace of India’s transformation in the maritime sector.
The Minister emphasised that India’s maritime ambitions are rooted in its centuries-old seafaring heritage but are increasingly being supported by modern infrastructure, financial mechanisms, technology, skilled manpower and policy reforms.
The India Ship Leasing and Financing Summit 2026 also underlined the growing importance of maritime finance and ship leasing in supporting India’s ambitions to expand its shipping ecosystem. Developing a robust maritime financing framework is expected to strengthen access to capital and support the growth of India’s ship-owning, shipbuilding and wider maritime services sectors.
Shri Sonowal reaffirmed the Government’s resolve to position India as a leading global maritime hub, leveraging the country’s strategic location, extensive coastline, established maritime traditions and expanding industrial and financial capabilities.
The Government’s maritime roadmap aims to build an ecosystem that is not only capable of handling India’s growing trade requirements but also enables the country to play a larger role in global shipping, ship finance, shipbuilding, ship repair, ship recycling and other maritime services.
India’s progress across these areas, the Minister noted, reflects the country’s broader transition towards a modern, resilient and globally competitive maritime economy, while keeping its historic maritime legacy at the centre of its future ambitions.
Source : IFSCA
