India’s maritime sector is poised to become a cornerstone of economic growth and global connectivity, steering the nation towards sustainable development and enhanced trade prospects. Acknowledging its pivotal role, the Ministry of Ports, Shipping, and Waterways has launched the country’s inaugural Centre of Excellence for Green Port & Shipping, underscoring India’s commitment to environmental sustainability within the sector.
As one of the world’s fastest-growing economies, India recognizes the strategic importance of its maritime industry, which not only facilitates trade and boosts employment but also acts as a catalyst for global connectivity and foreign investment inflows. Aligned with the vision to achieve developed and self-sufficiency status by 2047, the maritime sector holds immense potential in driving India’s economic aspirations. Central to India’s maritime agenda is the Maritime India Vision (MIV) 2030, a comprehensive blueprint aimed at accelerating growth across various sub-sectors including ports, shipping, and waterways. MIV 2030 envisages over 150 initiatives focused on enhancing operational efficiency, promoting port-driven industrialization, and establishing world-class infrastructure to meet escalating trade demands and reduce logistics costs effectively. According to recent announcements by the Ministry of Ports, Shipping, and Waterways, investments ranging from Rs1,00,000 to Rs1,25,000 crore are earmarked under MIV 2030 to bolster port capacity and develop cutting-edge infrastructure at Indian ports. These investments are pivotal in transforming India into a global maritime leader, leveraging its extensive coastline, navigable waterways, and strategic location along key international trade routes in the Indian Ocean. The Sagarmala programme, a flagship initiative under the ministry, plays a critical role in fostering port-led development across India.
Spanning the nation’s 7,500 km coastline and 14,500 km of potential waterways, Sagarmala aims to modernize existing ports and create new, state-of-the-art facilities that enhance connectivity, reduce logistics costs, and optimize the efficiency of India’s maritime logistics chain. Recent developments under the Sagarmala Programme include the sanctioning of 70 projects worth ₹2,856 crores, focusing on coastal berths, roll-on/roll-off terminals, and passenger jetties. Notably, 15 projects valued at ₹849 crore have already been completed, marking significant progress towards enhancing maritime infrastructure and operational capabilities. India’s strides in port infrastructure modernization are evident, with major ports witnessing an 86% increase in cargo handling capacity, rising from 871.52 million tonnes per annum (mtpa) in 2014-15 to 1617 mtpa in 2022-23.
Moreover, India leads in container turnaround time with an impressive 0.9 days, surpassing global benchmarks set by countries like Singapore, UAE, and Germany, according to the World Bank’s Logistic Performance Index Report-2023. Looking ahead, ongoing projects such as the development of Vadhavan Port in Maharashtra and the expansion of mega ports like Deendayal and Paradip underscore India’s commitment to enhancing its maritime infrastructure. With strategic initiatives and partnerships with global shipping companies, India aims to attract more traffic to its ports, ensuring seamless integration into the global maritime network.
