India has stepped up its game in the global maritime landscape, committing a whopping USD 20 billion to fast-track infrastructure development, multimodal logistics, and trade facilitation. Union Minister for Ports, Shipping and Waterways, Mr. Sarbananda Sonowal, made this landmark announcement during his keynote speech at the India@Nor-Shipping Country Session in Oslo.
Why This Matters:
India is not just upgrading its ports—it’s reshaping the future of maritime connectivity, sustainability, and global trade influence.
Top Highlights from the Minister’s Address:
Massive Investment Push:
- USD 20 billion pledged for infrastructure development.
- Focus on multimodal logistics, port connectivity, and ease of doing business.
Strengthening Global Maritime Corridors:
- Emphasis on key corridors like:
- India-Middle East-Europe Economic Corridor (IMEEC)
- Eastern Maritime Corridor (EMC)
- International North-South Transport Corridor (INSTC)
India’s Shipbuilding Ambition:
- Vision to be among the Top 5 Shipbuilding Nations by 2047.
- Policy reforms and incentives designed to boost shipbuilding capacity.
Green Maritime Future:
- Establishing three Green Hydrogen Hub Ports at Kandla, Tuticorin, Paradip.
- Leading the IMO’s Green Voyage 2050 initiative for sustainable shipping.
- Development of green fuel bunkering hubs for hydrogen & ammonia at Indian ports.
Digital Maritime Ecosystem:
- Implementation of platforms like:
- ONOP (One Nation - One Port Process)
- National Logistics Portal (Marine)
- MAITRI – Virtual Trade Corridor
- Aims: Streamlining EXIM trade, real-time data tracking, reducing bottlenecks.
Sustainable Ship Recycling:
- Showcased India's HKC-compliant, environmentally regulated ship recycling framework.
- Promotes circular economy by recycling old vessels to reduce waste and emissions.
Innovative Maritime Financing:
- Introduction of Maritime Development Fund.
- Blended finance model to attract private sector investments.
- Government to offer concessional capital and risk-sharing mechanisms.
India’s Bold Vision:
“India’s maritime journey is not just about growth—it’s about creating a resilient, green, tech-enabled and globally competitive ecosystem. We are paving the way for India to become a maritime powerhouse, shaping the future of global shipping and trade,”
— Mr. Sarbananda Sonowal
Why the Industry Should Watch This:
- Unprecedented public investment in logistics & port infrastructure.
- Massive opportunity for private investors & technology partners.
- Strong push for green fuels and shipbuilding modernization.
- India aiming to redefine itself as a key node in global trade corridors.