The budget for India’s Inland Water Transport Authority (IWAI) has been increased to Rs 1,944 crore in FY2025-26, a 31% rise from the previous year. This funding will focus on developing National Waterways, improving infrastructure, and enhancing waterway connectivity. Additionally, the Chennai Port Authority received a loan for land acquisition and road construction.
India’s shipbuilding industry is poised for a resurgence with a focus on enhancing capacity in the latest budget. Cochin Shipyard Ltd is at the forefront of this initiative, investing in new facilities for ship production and repair. The budget’s incentives and emphasis on shipbuilding are expected to drive growth and innovation in Kerala’s maritime sector.
India is investing $6 billion in its maritime sector, aiming to become a global powerhouse. The budget includes a $3 billion Maritime Development Fund to finance ship acquisitions and increase market share. Plans also focus on domestic shipbuilding, with clusters in five states and financial assistance to Indian shipyards.
Finance Minister Nirmala Sitharaman announced a Maritime Development Fund of Rs 25,000 crore during the 2025-26 Budget, aimed at boosting the maritime industry and fostering competition. The fund expects to attract Rs 1.5 lakh crore in investments by 2030. Additional measures include extending customs duty exemptions for ship manufacturing and revamping financial assistance policies.
Kerala Ports Minister V N Vasavan recently announced that the Vizhinjam transshipment port has handled three lakh TEUs of cargo in a successful six-month trial period. With a cost of Rs 8,867 crore, the port has welcomed 150 ships and managed 85,000 TEUs in January alone, solidifying its position as a key trade gateway for India.
In a move to empower seafarers and promote inclusivity, Minister Shantanu Thakur launched two initiatives at SCI in Mumbai. “Sagar Mein Yog” focuses on wellness, while “Sagar Mein Samman” empowers female seafarers. These initiatives align with Maritime India Vision 2030, aiming to enhance seafarers’ physical and mental resilience for a stronger global presence.
The Indian Coast Guard (ICG) is gearing up to celebrate its 49th Raising Day on 01 Feb 2025, showcasing nearly five decades of unwavering service to the nation. With a growing fleet of ships and aircraft, the ICG aims to further strengthen its capabilities to protect India’s maritime interests and ensure safety at sea.
Afcons Infrastructure, a part of the Shapoorji Pallonji group, has recently secured a major project worth 1,283 crore rupees for the design and construction of a container terminal in Gujarat. Additionally, the company has also won a contract for the construction of the Pune Ring Road, solidifying its position in the infrastructure sector.
Shantanu Thakur, GOI Union Minister of State for PSW, visited JNPA in India to assess the Vadhvan Port project’s progress. He signed an MoU with YCMOU to offer port operation programs and discussed strategic initiatives with stakeholders to enhance maritime trade. Thakur emphasized the importance of port infrastructure in boosting economic growth and global competitiveness.
The ambitious National Waterways project in Kerala is nearing completion with a 235 km route from Akculam to Chettuva. This initiative is part of the larger West Coast Waterway project, aiming to boost transportation, trade, and tourism in the state by 2026. The official opening is expected in April or May, benefiting tourism significantly.
Global shipping is moving towards sustainability, with shore power becoming crucial to reduce emissions and improve efficiency. Ports and shipping lines worldwide are embracing shore power to meet environmental regulations. Cavotec offers recommendations for India to align with regulatory frameworks and ensure safety. Planning for future needs is essential for successful implementation.
Thanks to additional funding from the ITF Seafarer’s Trust, thousands of cadets in India will now receive comprehensive wellness training and support through the Sailors’ Society’s new program. The collaboration aims to equip cadets for successful maritime careers by addressing their well-being and preparing them for life at sea.
The Indian Coast Guard intercepted 53 kilograms of ganja near the India-Sri Lankan maritime boundary line, valued at Rs 60 lakh. The operation, conducted this morning, utilized an air-cushion vehicle to discover packages on First Island. Further investigation led to the recovery of twelve abandoned packets. The contraband will be handed over to Customs for action.
The Yashwantrao Chavan Maharashtra Open University and Vadhvan Port Project Ltd have partnered to provide skill-based training for students, focusing on the operational needs of Vadhvan Port. This collaboration aims to create more job opportunities and equip students with the necessary skills for the maritime industry.
The Indian Coast Guard and the Indonesia Coast Guard have extended their MoU on Maritime Safety and Security Cooperation for three years, strengthening bilateral relations. A recent high-level meeting focused on enhancing operational interaction and capacity building in key areas. Both sides aim to share best practices and continue professional exchanges to create a safer Indo-Pacific region.
