India is positioning itself as an attractive destination for international marine investors, offering 100% foreign direct investment (FDI) in shipping and shipbuilding under an automatic route. Key incentives include a 10-year tax holiday, zero GST on ship imports, and no withholding tax on maritime transactions. At the ‘India Maritime Investment Meet’ in London, TK Ramachandran, Secretary of the Ministry of Ports, Shipping and Waterways, highlighted India’s ambition to become a global maritime superpower, supported by its robust economic growth, now exceeding $4 trillion.
Ramachandran emphasized modernization efforts in India’s port ecosystem through Public-Private Partnerships, aiming to boost cargo handling capacity from 2,760 MTPA to 10,000 MTPA by 2047. He noted that Indian ports are pivotal not just for trade, but also for clean energy initiatives, including offshore wind and green hydrogen projects. The establishment of three Green Hydrogen Hub Ports and the Green Tug Transition Programme were underscored as significant steps toward sustainable development.
On the digital front, initiatives like the Maritime Single Window and the One Nation-One Port Process aim to enhance efficiency and reduce logistics costs. Ramachandran also invited global stakeholders to the upcoming ‘India Maritime Week 2025’ in Mumbai, promoting networking and investment opportunities. The meet, inaugurated by High Commissioner Vikram K. Doraiswami, reaffirmed the long-standing maritime ties between India and the UK, focusing on sustainable economic growth.
