India’s Maritime Sector: Key to Economic Growth and Global Trade Expansion

India’s Vice President, Jagdeep Dhankhar, highlighted the significant role of India’s maritime sector in the country’s goal of becoming the world’s third-largest economy. Leveraging its strategic geographical location and advanced infrastructure, India is emerging as a maritime powerhouse on the global stage. Dhankhar emphasized that with the global blue economy projected to reach USD 6 trillion by 2030, India’s maritime sector is well-positioned to drive the country’s economic growth.

India is actively developing its blue economy, focusing on sustainable ocean resource utilization to fuel economic expansion and create employment opportunities. The government’s Sagarmala program is integrating ports with industrial clusters to optimize logistic networks and promote comprehensive coastal development. Additionally, the Coastal Shipping Bill 2024 is streamlining regulatory frameworks and enhancing multi-modal trade connectivity to further boost the maritime sector’s efficiency.

During the Indian Maritime Heritage Conclave (IMHC) 2024, Vice President Dhankhar addressed delegates from 11 countries, underscoring India’s maritime strength. With a 7,500 km coastline, 13 major ports, and 200 other ports, India’s maritime infrastructure solidifies its position as a key player in the global maritime industry. The Vice President’s remarks highlighted India’s commitment to harnessing its maritime potential for economic prosperity and sustainable growth on a global scale.

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