THEBUSINESSBYTES BUREAU NEW DELHI, JUNE 26, 2025 In a landmark development for India’s maritime sector, Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal on Thursday inaugurated the Sagarmala Finance Corporation Limited (SMFCL), the country’s first Non-Banking Financial Company (NBFC) dedicated exclusively to maritime infrastructure and development. Formerly operating as the Sagarmala Development Company Limited, the corporation has been formally ...

THEBUSINESSBYTES BUREAU NEW DELHI, JUNE 7, 2025 In a bold declaration of its maritime ambitions, Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, on Saturday announced that India is firmly committed to achieving net zero emissions at all major ports by 2047. This announcement was made during his interaction with students of the prestigious Blue MBA Executive Programme at ...

THEBUSINESSBYTES BUREAU NEW DELHI, MAY 26, 2025 In a significant push towards revolutionizing India’s inland water transport sector, Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, announced that 47 new National Waterways will become operational by 2027, as part of a larger target to make 76 waterways fully functional. Addressing a Consultative Committee meeting on Inland Waterways Transport in ...

THEBUSINESSBYTES BUREAU NEW DELHI, MAY 13, 2025   In a landmark achievement for the nation’s maritime sector, India’s major ports registered a record cargo throughput of 855 million tonnes in the financial year 2024-25 (FY25), marking a 4.3 per cent year-on-year increase over the 819 million tonnes handled in FY 2023-24, the Ministry of Ports, Shipping and Waterways announced on ...

THEBUSINESSBYTES BUREAU PARADIP, MARCH 3, 2025 Paradip Port has been honoured with the prestigious No.1 Sagar Ankalan certificate for its outstanding overall performance in bulk cargo handling in the category of greater than or equal to 5 MMT for FY 2023-24. The award was presented by Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, and received by Paradip Port ...

New Delhi, December 3, 2024 (TBB Bureau): India has achieved a significant milestone in enhancing the operational efficiency of its major ports, with the average turnaround time for ships being reduced by an impressive 48.65 per cent over the past decade. Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, informed the Rajya Sabha on Tuesday that the turnaround time ...

New Delhi, November 18, 2024 (TBB Bureau): India is embarking on a transformative journey to revolutionize its maritime sector by 2047, backed by a ₹80 lakh crore investment aimed at enhancing port capacity, shipping, shipbuilding, and inland waterways. Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, outlined this ambitious vision during the inaugural session of ‘Sagarmanthan – The Great ...

New Delhi, November 9, 2024 (TBB Bureau): “The Ministry of Ports, Shipping & Waterways (MoPSW) remains dedicated to creating efficient, eco-friendly spaces that support sustainable practices benefiting both our communities and environment,” said Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, highlighted the Ministry’s commitment to fostering a cleaner and more sustainable work environment. His statement followed the successful ...

New Delhi, September 17, 2024 (TBB Bureau):  In a significant development for India’s maritime sector, the Ministry of Ports, Shipping & Waterways has announced the appointment of Olympic medalist Manu Bhaker as its new Brand Ambassador. The announcement was made by Union Minister Sarbananda Sonowal today. Manu Bhaker, who has made history as the only Indian to win two individual ...

New Delhi, August 28, 2024 (TBB Bureau): The Ministry of Ports, Shipping, and Waterways (MoPSW) has approved a wage structure revision for workers at India’s major ports, averting an indefinite strike that threatened to disrupt operations across 12 major ports in the country. This development follows the signing of a memorandum of understanding (MoU) between the Bipartite Wage Negotiation Committee ...