India has unveiled a bold initiative aimed at revolutionising its coastal and inland waterways shipping sectors, with a resolute goal to transition to renewable energy sources within the next five years.
The announcement, made by the shipping secretary, underscores India’s steadfast commitment to achieving net zero carbon emissions by 2070, aligning its maritime strategies with broader environmental objectives. Currently, India’s renewable energy share at major ports languishes below 10%, reflecting a pressing need for transformative action in the shipping domain. To catalyse this transition, India plans to augment its fleet substantially, with approximately 5,000 new vessels slated for addition over the next decade, supplementing the existing fleet of around 1,500 vessels. In a significant stride towards sustainable maritime solutions, India recently launched its maiden hydrogen-run ferry, signalling the nation’s readiness to embrace innovative green technologies. Further bolstering these efforts, Garden Reach Shipbuilders & Engineers has announced plans to develop green energy vessels powered by solar energy and batteries, heralding a paradigm shift towards eco-friendly shipping practices.
Globally, the shipping industry accounts for approximately 3% of the world’s CO2 emissions, making India’s commitment to carbon reduction pivotal in contributing towards global environmental goals. By targeting a 50% reduction in greenhouse gas emissions from ships by 2050, as set forth by the International Maritime Organization, India positions itself as a frontrunner in the global fight against climate change. To fortify its shipping industry and foster innovation, India intends to establish a Maritime Development Fund aimed at incentivising the production of green vessels and infrastructure. Additionally, plans are underway to establish green hydrogen hubs at strategic ports such as Kandla, Thoothukudi, and Paradip, with a target of producing 5 million metric tons of green hydrogen annually by 2030. India’s ambitious endeavours in green shipping underscore its unwavering commitment to sustainable development and environmental stewardship. By embracing renewable energy solutions and fostering technological innovation, India charts a course towards a greener, more resilient maritime future, poised to leave a lasting legacy in the global fight against climate change.
