India seeks global partners for ₹10 trillion shipping investment as PM Modi meets CEOs at Maritime Week in October.
In a bold push to transform India into a global maritime powerhouse, the government has reached out to more than 100 nations to attract investments worth a staggering ₹10 trillion in the shipping, ports, and shipbuilding sectors.
The initiative will take center stage at India Maritime Week in October, where Prime Minister Narendra Modi will meet 25 global CEOs and 10 regional business leaders to outline India’s vision. According to R. Lakshmanan, Joint Secretary at the Shipping Ministry, the move comes after a series of fiscal and legislative reforms rolled out in the last seven months to make India more investment-friendly.
Highlighting the potential, Shipping Minister Sarbananda Sonowal told diplomats at the Ambassadors’ Roundtable in Delhi, “These opportunities open up to $1 trillion maritime investment roadmap, with strong potential for joint ventures in developing ports, cargo terminals, shipbuilding, ship recycling, green hydrogen hubs, and sustainable shipping solutions.”
The talks also covered India’s role in strategic corridors. Ambassadors raised queries on the India-Middle East-Europe Economic Corridor (IMEEC) and the future of Chabahar Port, seen as a vital gateway for landlocked Central Asian countries.
Delegates further stressed India’s maritime priorities, strengthening shipbuilding, port-led development, and boosting the blue economy through sustainable use of ocean resources.
This momentum aligns with the government’s Maritime Amrit Kaal Vision 2047, which charts an ambitious investment plan of ₹80 trillion over the next 22 years. Of this, ₹54 trillion is earmarked for shipbuilding, with the goal of placing India among the world’s top five shipbuilding nations.
The October summit is expected to mark a turning point in India’s maritime journey, bridging global partnerships and domestic ambitions to redefine the country’s shipping future.
Source: BS
