India’s ₹2 Trillion Investment to Boost Shipbuilding and Sustainability
The Ministry of Ports, Shipping and Waterways (MoPSW) in India is dedicated to bolstering the country’s maritime sector through various projects totaling ₹2 trillion. The ministry has set a target to complete 150 projects by September 2025, with a focus on making India one of the top 5 shipbuilding nations by 2047. Plans are in place to increase shipbuilding capacity by adding 4 million Gross Registered Tonnage (GRT), along with policy formulation and skill development initiatives to support this goal. Collaboration between the central and state governments is also being enhanced to drive progress in the maritime industry.
A key aspect of the ministry’s vision is to create a greener and more sustainable shipping industry. Initiatives include establishing the Bharat Container Shipping Line under the Shipping Corporation of India (SCI) and developing a Coastal Green Shipping Corridor, starting with the Kandla-Tuticorin route. The Harbour Craft Green Transition Programme aims to promote the adoption of clean energy at Indian ports, with a requirement for all major ports to tender for at least one green tug in the next three months, emphasizing the importance of sustainability in the sector.
The Inland Waterways Authority of India (IWAI) is investing ₹100 to enhance infrastructure on three National Waterways in Jammu & Kashmir, specifically the Rivers Chenab, Jhelum, and Ravi. This investment will boost inland water transport and connectivity in the region. The government is also prioritizing the modernization of port infrastructure, improving port connectivity with hinterlands, and fostering a more efficient maritime ecosystem. To drive innovation, initiatives such as the Sagarmala Startup and Innovation Initiative (S2I2) and Maritime Innovation Hubs (MIHs) will be launched, while the Sagarmala Digital Centre of Excellence will focus on the digital transformation of the maritime sector to enhance efficiency and competitiveness. Additionally, the Mumbai International Cruise Terminal is expected to begin commercial operations by April 2025, and the establishment of India Ports Services Limited (IPSL) will further enhance port efficiency and attract foreign investment.
