Indian Maritime Sector Growth
The Indian ports have shown a remarkable increase in operational efficiency. The average turnaround time for ships has reduced significantly, from 4 days to less than 1 day. Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, mentioned that India has outperformed many advanced nations in this aspect.
Infrastructure Developments
Container capacity at major ports has seen a growth of over 70 percent. Additionally, cargo volumes through coastal and inland waterways have multiplied over the recent years. This development was highlighted by Sonowal at an event.
Investment Ecosystem
With 100 percent Foreign Direct Investment (FDI) permitted in shipping under the automatic route, simplified customs clearance processes, and the strategic advantage of GIFT City International Financial Services Centre (IFSC), India now provides one of the most appealing investment environments in the maritime sector. The aim is clear – to establish India as a global maritime hub not only in trade but also in finance, shipbuilding, and green maritime infrastructure.
Financial Foundations
Minister of State Shantanu Thakur emphasized the importance of reliable, long-term financial foundations for India’s maritime ambitions. He stressed the commitment to creating an environment that fosters growth and leadership in the Indian shipping industry through policies, reforms, and international collaborations.
Maritime Development Fund (MDF)
An essential announcement was made concerning the proposed Maritime Development Fund (MDF). This dedicated blended finance tool aims to reduce capital costs and attract long-term investments into shipyards, coastal infrastructure, and inland waterways. Extensive consultations with various stakeholders have led to the development of the MDF.
Policy Measures
Several policy measures were discussed to enhance India’s global competitiveness in the maritime and shipbuilding sectors. Initiatives such as recognizing large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome cost challenges, and enabling ship leasing through GIFT City IFSC were highlighted.
Legislative Developments
Efforts such as the Merchant Shipping Bill and the Coastal Shipping Bill are underway to support Indian-flagged tonnage. Parliament has passed the Bills of Lading Bill 2025, aiming to simplify the legal framework for shipping documents.
Future Vision
The ministry envisions capital support for greenfield capacity expansion, creating new shipbuilding clusters and enhancing existing shipyards’ capacity through coordinated efforts between the Centre and States. These initiatives aim to further strengthen India’s position in the maritime and shipbuilding domains.
