India’s maritime sector is advancing with great speed and energy: PM

THEBUSINESSBYTES BUREAU

MUMBAI, OCTOBER 29, 2025

Prime Minister Narendra Modi on Wednesday reaffirmed India’s rising global stature in the maritime arena, declaring that the nation’s maritime sector is advancing “with great speed and energy” as he addressed the Maritime Leaders Conclave and chaired the Global Maritime CEO Forum at the India Maritime Week (IMW) 2025 in Mumbai. The Prime Minister welcomed participants from over 85 countries, lauding the presence of global shipping CEOs, innovators, policymakers, and representatives from small island nations who, he said, had collectively infused new synergy and dynamism into the summit.

Calling IMW’s journey from its 2016 beginnings in Mumbai to its current global scale “a symbol of India’s growing maritime leadership,” Modi highlighted the signing of multiple agreements worth lakhs of crores in the shipping sector. These, he said, reflected strong global confidence in India’s maritime potential.

Outlining major milestones achieved in 2025, the Prime Minister noted that India’s first deep-water international trans-shipment hub at Vizhinjam Port has become operational and recently received the world’s largest container vessel — a moment of pride for the nation. He further mentioned that India’s major ports have recorded their highest-ever cargo handling volumes, while Kandla Port has pioneered the country’s first megawatt-scale indigenous green hydrogen facility. At Jawaharlal Nehru Port, the commencement of Phase 2 of the Bharat Mumbai Container Terminal has doubled handling capacity, making it India’s largest container port, backed by the biggest FDI in the country’s port infrastructure in partnership with Singapore.

Modi underscored India’s commitment to modernizing its maritime framework through sweeping reforms. He announced that the colonial-era shipping laws, more than a century old, have been replaced with forward-looking legislation that strengthens safety, sustainability, and digitization while empowering State Maritime Boards. The new Merchant Shipping Act, aligned with international conventions, enhances safety standards, improves ease of doing business, and boosts investor confidence.

Highlighting the newly introduced Coastal Shipping Act, the Prime Minister said it is designed to simplify trade, strengthen supply chain security, and ensure balanced coastal development. He also emphasized the “One Nation, One Port Process,” which will standardize procedures and drastically reduce documentation, marking a new chapter in India’s decade-long maritime reforms.

Reflecting on India’s transformative journey, Modi said that under the Maritime India Vision, more than 150 initiatives have been launched, doubling the capacity of major ports, reducing turnaround time, and spurring cruise tourism. Cargo movement through inland waterways, he noted, has surged by over 700 percent, with the number of operational waterways rising from three to thirty-two, while the net annual surplus of Indian ports has increased ninefold in the past decade.

“India’s ports are now among the most efficient in the developing world, and in many cases, outperform ports in developed nations,” the Prime Minister said, citing the reduction of average container dwell time to under three days and vessel turnaround time to just forty-eight hours. He added that India has improved its position in the World Bank’s Logistics Performance Index, while the number of Indian seafarers has risen from 1.25 lakh to over 3 lakh, positioning the country among the top three globally.

Turning to the future, Shri Modi said India’s next phase of growth will center on the Blue Economy, sustainable coastal development, and green logistics. Shipbuilding, he said, is now among India’s top priorities, recalling the country’s historical prowess in this field, as seen in ancient depictions like the Ajanta Caves’ sixth-century painting of a three-masted ship. To revive this legacy, he announced infrastructure asset status for large ships — a reform that will reduce financing costs and open new credit avenues. The government, he revealed, will invest nearly ₹70,000 crore to expand domestic shipbuilding capacity, create millions of jobs, and attract large-scale investments in shipyards and maritime skills development.

Paying tribute to Chhatrapati Shivaji Maharaj, Shri Modi said the land of Maharashtra continues to embody the Maratha warrior’s vision that “the seas are not boundaries but gateways to opportunity.” In line with this, he announced that India is constructing a new mega port at Vadhavan, Maharashtra, with an investment of ₹76,000 crore, aimed at quadrupling the capacity of major ports and expanding India’s share in containerized cargo. He reiterated that India allows 100 percent FDI in the ports and shipping sector and is actively promoting public-private partnerships under the “Make in India, Make for the World” initiative.

Amid global uncertainties, the Prime Minister said India stands as “a steady lighthouse” of stability, reliability, and inclusive growth. He highlighted the India–Middle East–Europe Economic Corridor as a game-changer that will reshape global trade routes and promote clean energy and smart logistics. Calling for collective global action, Modi emphasized India’s commitment to supporting Small Island Developing States and Least Developed Countries through technology, training, and infrastructure to build a sustainable maritime future.

The event was attended by Maharashtra Governor Acharya Devvrat, Chief Minister Devendra Fadnavis, Union Ministers Sarbananda Sonowal, Shantanu Thakur, and Kirti Vardhan Singh, among other dignitaries.

Organised under the theme “Uniting Oceans, One Maritime Vision,” India Maritime Week 2025 runs from October 27 to 31 and brings together over 1,00,000 delegates, 500 exhibitors, and 350 international speakers from more than 85 countries, showcasing India’s roadmap to emerge as a global maritime hub and leader in the Blue Economy.