India’s maritime sector sees historic expansion with mega ports, $1T investment plans, and efficiency gains driving growth.
Union Minister Sarbananda Sonowal has declared India’s maritime sector a cornerstone of economic resurgence, unveiling a transformative plan to expand port capacity over six-fold to 10,000 million tonnes per annum (MTPA) by 2047. Speaking at the FICCI Maritime Conference and Expo 2025, he highlighted significant achievements, including:
- Major ports currently handling 820 MMT of cargo annually, a 47% rise since 2014.
- Overall port capacity doubling to 1,630 MMT during the same period.
The expansion features two mega-port developments:
- Vadhvan Port, Maharashtra: India’s largest upcoming container facility.
- Galathea Bay, Great Nicobar: Positioned to dominate transshipment trade on global routes.
India has reduced container dwell time to 3 days and vessel turnaround time to 0.9 days, outpacing several advanced economies. Notably, nine Indian ports are ranked in the World Bank Container Port Performance Index 2023, with Visakhapatnam among the top 20 globally.
The Ministry plans to invest $1 trillion in maritime projects by 2047. Major ports are gearing up to become green hydrogen hubs, with production set to begin within a year at Kandla, Tuticorin, and Paradip. These initiatives are expected to attract ₹5 lakh crore in investments by 2030.
India, ranked second in ship recycling and third in seafarer contributions globally, aims to:
- Lead the global ship recycling market.
- Break into the top five shipbuilding nations.
- Provide 20% of the global seafaring workforce by 2047.
The Netherlands, a key FDI contributor, is collaborating with India on port decarbonisation, supply chain optimisation, and maritime security, further boosting India’s infrastructure goals. The conference also saw the launch of the report “Forging New Horizons: The Growth of India’s Shipbuilding and Repair Industry,” outlining India’s potential to become a global shipbuilding hub.
With ambitious targets and global partnerships, India’s maritime sector is steering toward unprecedented growth and global leadership.
