Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, underscored the government’s unwavering commitment to establishing sustainable, world-class maritime and inland waterways infrastructure. This strategic move aims to bolster export and import (Exim) trade, thus fuelling economic growth and positioning India as a global maritime hub.
He highlighted several key initiatives led by the ministry, notably the Sagar Mala programme, which involves projects worth INR 5,100 crore. This ambitious programme is designed to revolutionise India’s maritime sector by enhancing port infrastructure, promoting coastal shipping, and improving logistics. Additionally, the Shipbuilding Financial Assistance Policy is set to fortify domestic shipyards, ensuring that India emerges as a significant player in the global shipbuilding industry. A notable element of the ministry’s strategy is the Harit Nauka Initiative, which promotes the use of green fuel for transportation in inland waterways. This aligns with the government’s broader environmental sustainability goals. Furthermore, the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (Sole) are innovative financial instruments aimed at boosting ship acquisition and enhancing Indian ownership in the maritime sector.He also emphasised the transformative potential of major projects such as the Vadhavan Mega Transshipment Port and the Galathea Bay Transshipment Port. These projects are anticipated to generate substantial employment opportunities and significantly increase India’s cargo handling capacity. The Cruise India Mission, which aims to triple cruise traffic, is another key initiative reflecting the government’s vision to develop a robust maritime ecosystem.The minister underscored the importance of policy reforms, including tax and GST support for shipbuilding, and green initiatives that collectively underscore the ministry’s commitment to economic growth and environmental sustainability. These measures are expected to enhance India’s competitiveness in the maritime sector, making it more attractive to global investors and stakeholders.
He lauded the active participation of over 150 stakeholders, including representatives from major ports, the shipping sector, the Inland Waterways Authority of India (IWAI), the Directorate General of Shipping (DG Shipping), and key industry associations such as Ficci, CII, and Assocham. He expressed his appreciation for their valuable insights, which he believes will help shape a more inclusive and growth-oriented budget.“The enthusiastic participation and valuable contributions from our stakeholders are truly commendable. This interaction has provided the ministry with insightful perspectives that will undoubtedly help in shaping a more inclusive and growth-oriented budget, aligned with Prime Minister’s ambitious vision of MIV 2030 and Amrit Kaal Vision 2047,” the Union Minister of Ports, Shipping, and Waterways remarked.The meeting’s discussions aligned with the MIV 2030 Vision, aiming to elevate India to a USD five trillion economy, and the Amrit Kaal Vision 2047, which envisions India as a developed nation with a robust economy, vibrant culture, and prominent global presence. With these strategic initiatives, the Ministry of Ports, Shipping, and Waterways is poised to transform India’s maritime sector, driving it towards a future of sustainable growth and global leadership.
