New Delhi: Prime Minister Narendra Modi emphasized the advantages of India’s robust industrial foundation, bolstered by the ‘Make in India’ initiative, and ongoing efforts to modernize and digitize ports along vital east-west trade routes. In a post on the X social media platform, he referenced an article by Union Minister Sarbananda Sonowal, highlighting the government’s $8 billion investment aimed at revitalizing the shipbuilding and maritime sectors as a clear indication of ambition rather than a mere budgetary item.
Sonowal pointed out that the shipping industry, once seen as lagging in energy transition, is now at a pivotal moment. With increasing global pressure to enhance emissions standards, there is a notable shift in financial investments towards zero-carbon vessels and fuels, alongside rapid technological advancements. This evolving landscape presents India with a unique opportunity to leverage its capabilities.
In his article titled "India can lead the global shift to green shipping," Sonowal described this transformation as “a quiet revolution” unfolding across global waters. He also noted that the Modi administration has established a strong foundation for renewable energy, positioning India among the countries with the lowest renewable energy costs worldwide.
The recent approval of a ₹69,725 crore ($8 billion) package to rejuvenate the maritime ecosystem is a testament to the government’s commitment. This investment signals India’s intent to play a significant role in the global transition to low-carbon shipping, moving from questioning its maritime sector’s participation to leading the charge decisively.
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