The Indian Government’s Ambitious Plan to Boost Shipbuilding and Maritime Industry

The Indian government has allocated ₹2 trillion (around $23.8 billion) to enhance domestic shipbuilding capabilities, rejuvenate the country’s maritime industry, and propel India into the top five shipbuilding nations by 2047.

This significant investment aligns with the “Maritime India Vision 2030” and the “Maritime Amrit Kaal Vision 2047” strategies.

Shipbuilding Expansion and Policy Reforms

The Ministry of Ports, Shipping and Waterways (MoPSW) has outlined plans to increase the nation’s shipbuilding capacity to develop four million gross registered tonnage (GRT) annually. The government has also revamped its Shipbuilding Financial Assistance Policy (SBFAP) to support domestic shipyards.

Under the revised policy, Indian-built, -flagged, and -owned vessels will be given priority for government contracts, enhancing support for the domestic shipbuilding industry.

Green Shipping and Port Development

As part of the initiative, MoPSW announced the establishment of a Bharat Container Shipping Line and the Green Tug Transition Program (GTTP) to reduce carbon emissions. The ministry aims to achieve 50% zero-emission tug operations by 2030 and full green operations by 2047.

Additionally, a Coastal Green Shipping Corridor and Harbour Craft Green Transition Program will promote low-emission maritime transportation and the adoption of alternative fuels in port operations.

Going Digital: Supporting Innovation in Technology

The government is prioritizing digitalization and technology-driven efficiency in ports and logistics. Plans include the creation of a Sagarmala Digital Center of Excellence and the Sagarmala Startup and Innovation Initiative (S2I2) to enhance port efficiency.

Union Minister of State Shantanu Thakur highlighted the significant increase in inland waterway cargo movement and the modernization of port infrastructure under the Sagarmala program.

India’s Big Move: Strengthening the Country’s Position in the Global Maritime Arena

Recent investments, including a $2.9 billion maritime development fund, demonstrate India’s commitment to transforming its maritime sector. Union Minister Sarbananda Sonowal emphasized the government’s dedication to enhancing ports and waterways.

Industry stakeholders, such as A.P. Moller-Maersk, Cochin Shipyard Limited, CMA CGM, and MSC, have expressed interest in collaborating with India to support its ambition to become a global maritime hub.

With these strategic investments and policy reforms, India is poised to revitalize its shipbuilding and maritime industry, positioning itself as a key player in the global maritime landscape.