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 This legislation aims to modernize India’s maritime framework, replacing outdated laws and enhancing seafarer welfare, coastal security, and international alignment in the shipping industry.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.
The Sagarmala Scheme, launched by the Ministry of Ports, Shipping and Waterways, aims to boost India’s port-led development, leveraging its extensive coastline. Key initiatives include funding for port infrastructure, with Tamil Nadu receiving around Rs 9,090 million for various projects, enhancing the state’s role in global maritime trade.
Visakhapatnam Port Authority (VPA) achieved a record freight throughput of 82.62 million tons in the 2024-25 financial year, surpassing 81.09 MT from the previous year. This growth, driven by diverse raw materials, also saw VPA’s container trade rise dramatically in global rankings. Sustainability and customer satisfaction remain key priorities for VPA.
The Goa Shipyard Limited has launched its second environmental pollution control ship, ‘Samudra Prachet,’ enhancing India’s coastal defense capabilities. Designed for rapid response to oil pollution in the Exclusive Economic Zone, this vessel supports environmental protection and advances self-reliance in defense manufacturing under the “Atmanirbhar Bharat” initiative.
The Director General of Shipping will be renamed the Director General of Maritime Administration under the new Merchant Shipping Bill. This reform aims to enhance oversight of maritime affairs and compliance with international conventions. The Bill also proposes establishing a regulatory body for vessel security and digitizing processes to improve efficiency.
The Indian Maritime University (IMU) in Kolkata inaugurated the Dr. Ravi K. Mehrotra Excellence Center in Sea Traffic on July 18, 2025. This center, backed by significant investment and industry partnerships, aims to enhance maritime research and collaborations, with a focus on innovative technologies and advanced training in the maritime sector.
India’s Directorate General of Shipping (DGS) has launched a crackdown on counterfeit training certificates used by seafarers to secure foreign employment. Initiated on July 18, this move addresses the alarming rise of fraudulent Competency Certificates (COCs) and aims to uphold maritime standards, ensuring only qualified individuals are certified for seafaring roles.
Dhamra Port in Odisha has marked a significant milestone by importing its largest coking coal consignment, totaling 186,782 metric tonnes. Delivered by Tata Steel, this achievement highlights the port’s capability to handle ultra-large vessels and reinforces its status as a premier deep-draft facility on India’s eastern coast.
India’s port sector is experiencing impressive growth, defying global trade tensions. Fueled by domestic consumption and government infrastructure initiatives, cargo volumes are expected to rise at a CAGR of 6.2% by FY25. With plans to expand capacity to 10,000 MMT by 2047, India’s maritime trade importance is growing significantly.
The Vadhavan Port Project aims to boost India’s container handling capacity by 23.2 million TEUs, enhancing its status as a global maritime hub. Minister Sarbananda Sonowal announced partnerships for skill development, including an MoU with Yashwantrao Chavan Maharashtra Open University, and initiatives for local entrepreneurship and training programs.
Viking Cruises plans to tap into the tourism potential of the Brahmaputra River with its new ship, Viking Brahmaputra, launching by the end of 2027. Developed by Hooghly Cochin Shipyard, this initiative reflects the growing global interest in India’s waterways, supported by significant investments and infrastructure improvements from the IWAI.
Captain Brijesh Chowta, MP for Dakshina Kannada, has proposed the establishment of Rani Abbakka Maritime University in Mangalore. Named after the historic warrior queen, the university aims to train a skilled workforce in marine fields, aligning with Prime Minister Modi’s vision to elevate India as a global maritime hub.
The Rajya Sabha has approved the ‘Bills of Lading, 2025’, paving the way for Presidential assent. This legislation modernizes the outdated Indian Lading Act of 1856, enhancing clarity and reducing ambiguity in maritime documentation, thus strengthening India’s position in global trade and improving the business environment.
