India’s maritime sector is advancing with Cochin Shipyard Limited’s launch of a new Industry 4.0-ready plate cutting machine, enhancing digital transformation in shipping. Additionally, the Green Tug Transition Programme aims to replace diesel tugs with hybrid and electric alternatives, promoting sustainability. The government also amended financial assistance policies to support green shipbuilding.
The Ministry has signed a Memorandum of Understanding with C-DAC to establish a Digital Centre of Excellence, enhancing India’s maritime sector. This initiative aims to modernize ports and shipping through advanced IT solutions. Additionally, the SAGAR SETU platform streamlines EXIM services, while a standardized Scale of Rates ensures tariff transparency.
Odisha is revitalizing its maritime sector through strategic policies led by the Commerce & Transport department. By modernizing ports, it aims to create robust economic ecosystems. In FY 2024-2025, Dhamra and Gopalpur ports efficiently processed significant cargo, contributing to state revenue and enhancing Odisha’s position in international trade.
Transport Corporation of India Ltd. (TCI) reported robust Q1 FY2026 financial results, achieving a consolidated revenue of ₹11,506 million, up 9% year-over-year. EBITDA rose by 11.9% to ₹1,520 million, while Profit After Tax increased 17% to ₹1,072 million. Managing Director Vineet Agarwal highlighted consistent growth across sectors and strategic investments.
On July 28, 2025, Greenpeace India and civil society groups demanded urgent action regarding environmental devastation caused by the abandoned MSC ELSA 3 off Kerala’s coast. Their white paper highlights extensive contamination of nurdles and oil pollution, labeling this a “multidimensional environmental and human crisis” necessitating swift clean-up and compensation for affected communities.
Gati Shakti Vishwavidyalaya in Vadodara is expanding its focus to marine and port sectors, as announced by Union Railway Minister Ashwini Vaishnaw. This shift aims to align with India’s emphasis on coastal infrastructure and maritime trade. Additionally, a Centre of Excellence in bridge and tunnel engineering will enhance specialized skills for infrastructure development.
Prices for Russian flagship crude oil at Indian ports have shown fluctuations as discounts on Brent nearly reach their lowest since 2022. Current discounts for Urals crude range from $1.50 to $1.60 per barrel below Brent, a change from $1.70 to $2 a month prior, reflecting competitive market dynamics.
India plans to establish shipbuilding clusters across 15,000 acres in five coastal states: Odisha, Andhra Pradesh, Tamil Nadu, Gujarat, and Maharashtra. Maharashtra will host approximately 40% of this land. The initiative aims to build a strong domestic shipbuilding industry, with investments expected to reach ₹1.5 lakh crore.
BEML Ltd. has partnered with Hindustan Shipyard Ltd. (HSL) to develop advanced marine systems, formalized by CMDs Shantanu Roy and Hemant Khatri in New Delhi. The MoU emphasizes co-creating innovative, indigenous systems, with BEML leading design and HSL enhancing indigenization efforts, aiming to bolster India’s advanced marine technologies.
India’s maritime ambitions are evolving rapidly, bolstered by a focus on self-reliance. Hindalco Industries Ltd. supplies high-performance aluminium for shipbuilding, collaborating with the Navy to create tailored products. Aluminium’s advantages, including lighter weight and corrosion resistance, position Hindalco to meet growing demands and enhance India’s naval capabilities.
India’s ship finance and leasing sector has historically struggled, worsened by the 2009 financial crisis and regulatory restrictions. However, the last few years show promise, largely due to the International Financial Services Centre at GIFT City, which offers competitive tax incentives and a favorable environment for domestic and international stakeholders.
Sagarmala Finance Corp Ltd (SMFCL), India’s first maritime non-banking finance corporation, plans to raise ₹4,000 crore in six months through market borrowings. The company is in talks with public and private banks for funding. It aims to support maritime sector projects, including skill development and infrastructure enhancements. A new Managing Director will be appointed soon.
As India strives to be a competitive shipbuilding hub, effective financing is essential. Access to structured capital and innovative leasing is lacking, hindering growth. Historically, ad-hoc financing reliant on conventional lending hampers progress. Developing an asset-based financing framework and enhancing institutional capacity can unlock significant potential for India’s maritime sector.
As Parliament’s Monsoon Session enters its fourth day, the Lok Sabha will reconvene at 2 pm to discuss the Merchant Shipping Bill, 2024. This legislation aims to modernize India’s maritime framework, replacing outdated laws and enhancing seafarer welfare, coastal security, and international alignment in the shipping industry.
The Maritime Financing Summit 2025, held in New Delhi, brought together key stakeholders to explore innovative financial strategies for India’s maritime sector. Union Minister Sarbananda Sonowal emphasized the country’s progress, citing reduced port turnaround times and increased container capacity. The summit aimed to strengthen partnerships and enhance India’s global maritime position.
