Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, inaugurated India’s first Non-Banking Financial Company (NBFC) in the maritime sector, Sagarmala Finance Corporation Limited (SMFCL). He emphasized that the registration of SMFCL marks a significant milestone in India’s maritime journey, as it aims to address critical financing gaps and provide tailored financial solutions for ports, MSMEs, startups, and institutions. This initiative aligns with the Maritime Amrit Kaal Vision 2047, positioning India as a leading global maritime power.
At the event, Mr. Sonowal also launched the SAGAR SETU platform, designed to enhance operational efficiency and simplify business processes within the maritime sector. He introduced a standardized Scale of Rates template for Major Port Authorities, ensuring consistent port tariffs across the board.
Additionally, the Minister unveiled the “Gateway to Green” report, which outlines a strategic roadmap for transitioning ports into green hydrogen hubs. To further advance digital transformation in the maritime industry, the Ministry signed a Memorandum of Understanding with the Centre for Development of Advanced Computing (CDAC) to establish a Digital Centre of Excellence.
