V.O. Chidambaranar Port Authority is propelling South India’s economic growth, targeting 50 million tonnes of cargo and 1 million TEUs this year. With major infrastructure upgrades and the launch of India’s first Green Hydrogen Pilot Plant, the port is set to become a vital maritime hub under the Gati Shakti initiative and Maritime Vision 2030.
The Maharashtra government has launched a new shipbuilding policy to enhance maritime infrastructure and promote ship repair and recycling. The Maharashtra Shipbuilding, Ship Repair, and Ship Recycling Facility Development Policy 2025 aims to attract investments, create jobs, and reduce reliance on foreign shipyards, aligning with the central government’s Maritime India Vision 2030.
Prime Minister Narendra Modi inaugurated the Vizhinjam port, a ₹8,900 crore project, emphasizing its role in enhancing India’s maritime security. He highlighted the port as a catalyst for regional development, boosting trade and economic growth, while creating employment opportunities and improving logistics efficiency for larger cargo ships in global trade.
This week (09-15 Dec. 2024), the maritime sector experienced pivotal developments, including the Mumbai Port Trust’s heritage tours, advancements in ship recycling legislation, and innovations in autonomous shipping technology. Furthermore, the need for improved seafarer welfare and environmental regulations highlights the industry’s commitment to navigating a sustainable and equitable future.
The Odisha government and IIT Madras have joined forces to create a Maritime Perspective Plan (OMPP) to address challenges and opportunities in the maritime sector. With a focus on port development and agricultural productivity, stakeholder consultations will shape the comprehensive approach to sustainable development in Odisha, benefiting both the economy and local communities.
India’s Vice President, Jagdeep Dhankhar, emphasized the crucial role of India’s maritime sector in achieving the country’s goal of becoming the world’s third-largest economy. With strategic location and advanced infrastructure, India is poised to be a maritime powerhouse. Dhankhar highlighted the sector’s potential to drive economic growth and capitalize on the global blue economy.
India’s maritime sector is on the rise, with initiatives aimed at enhancing cargo capacity and sustainability. Key developments include a subsidy program for inland transport and significant reductions in ship turnaround times. Globally, innovations like hydrogen-powered vessels and new guidelines for seafarers’ treatment further illustrate the industry’s evolution towards a greener, more equitable future.
Kerala’s Chief Minister, Pinarayi Vijayan, announced a significant update on the Vizhinjam Port project, extending its completion to December 2024. With plans to expand capacity to 30 lakh TEU by 2028, the project is crucial for Kerala’s economic growth. Stakeholders must meet deadlines to avoid financial penalties and fulfill the state’s vision.
Union Minister Sarbananda Sonowal convened a pre-Budget meeting with industry stakeholders to discuss India’s maritime sector development. Encouraging collaboration, he urged stakeholders to share ideas for nation-building efforts. Emphasizing sustainable infrastructure, Sonowal highlighted initiatives like the Vadhavan Mega Transshipment Port to boost economic growth. Over 150 stakeholders, including industry leaders, participated in shaping India’s maritime future.
