In a groundbreaking move for India’s clean energy, Deendayal Port Authority has launched the country’s first “Mega-in-India” green hydrogen project. Union Minister Sarbananda Sonowal praised the rapid execution, noting a 10 MW facility established in just four months, positioning DPA as a leader in green hydrogen production and maritime decarbonization.
In a significant step towards enhanced maritime cooperation, the Indian Coast Guard (ICG) and UAE National Guard Command have signed a Memorandum of Understanding during the 13th Joint Defence Cooperation Committee meeting in New Delhi. This agreement focuses on Maritime Security and Safety, aiming to strengthen ties and collaborative efforts.
India has begun constructing its first AI-equipped patrol vessel, the Next Generation Offshore Patrol Vessel (NGOPV), to bolster maritime security. At 384 feet long and displacing 2,700 tons, it will support up to 121 personnel and achieve speeds of 23 knots, enhancing rapid response and extended patrol capabilities.
India’s maritime sector is advancing with Cochin Shipyard Limited’s launch of a new Industry 4.0-ready plate cutting machine, enhancing digital transformation in shipping. Additionally, the Green Tug Transition Programme aims to replace diesel tugs with hybrid and electric alternatives, promoting sustainability. The government also amended financial assistance policies to support green shipbuilding.
The Ministry has signed a Memorandum of Understanding with C-DAC to establish a Digital Centre of Excellence, enhancing India’s maritime sector. This initiative aims to modernize ports and shipping through advanced IT solutions. Additionally, the SAGAR SETU platform streamlines EXIM services, while a standardized Scale of Rates ensures tariff transparency.
Prices for Russian flagship crude oil at Indian ports have shown fluctuations as discounts on Brent nearly reach their lowest since 2022. Current discounts for Urals crude range from $1.50 to $1.60 per barrel below Brent, a change from $1.70 to $2 a month prior, reflecting competitive market dynamics.
India plans to establish shipbuilding clusters across 15,000 acres in five coastal states: Odisha, Andhra Pradesh, Tamil Nadu, Gujarat, and Maharashtra. Maharashtra will host approximately 40% of this land. The initiative aims to build a strong domestic shipbuilding industry, with investments expected to reach ₹1.5 lakh crore.
India’s ship finance and leasing sector has historically struggled, worsened by the 2009 financial crisis and regulatory restrictions. However, the last few years show promise, largely due to the International Financial Services Centre at GIFT City, which offers competitive tax incentives and a favorable environment for domestic and international stakeholders.
As India strives to be a competitive shipbuilding hub, effective financing is essential. Access to structured capital and innovative leasing is lacking, hindering growth. Historically, ad-hoc financing reliant on conventional lending hampers progress. Developing an asset-based financing framework and enhancing institutional capacity can unlock significant potential for India’s maritime sector.
India’s Directorate General of Shipping (DGS) has launched a crackdown on counterfeit training certificates used by seafarers to secure foreign employment. Initiated on July 18, this move addresses the alarming rise of fraudulent Competency Certificates (COCs) and aims to uphold maritime standards, ensuring only qualified individuals are certified for seafaring roles.
Viking Cruises plans to tap into the tourism potential of the Brahmaputra River with its new ship, Viking Brahmaputra, launching by the end of 2027. Developed by Hooghly Cochin Shipyard, this initiative reflects the growing global interest in India’s waterways, supported by significant investments and infrastructure improvements from the IWAI.
Captain Brijesh Chowta, MP for Dakshina Kannada, has proposed the establishment of Rani Abbakka Maritime University in Mangalore. Named after the historic warrior queen, the university aims to train a skilled workforce in marine fields, aligning with Prime Minister Modi’s vision to elevate India as a global maritime hub.
The Rajya Sabha has approved the ‘Bills of Lading, 2025’, paving the way for Presidential assent. This legislation modernizes the outdated Indian Lading Act of 1856, enhancing clarity and reducing ambiguity in maritime documentation, thus strengthening India’s position in global trade and improving the business environment.
India, with a coastline of 7,516.6 km and over 200 ports, ranks as the 16th largest maritime nation. Despite its potential, it faces challenges like reliance on foreign vessels and limited financial support. Initiatives like the ₹25,000 crore Maritime Development Fund aim to revitalize the sector, yet access to affordable financing remains a hurdle.
The river cruise tourism sector in India is surging, with series rising from 371 in 2023-24 to 443 in 2024-25—a 19.4% increase. Viking Cruises is entering this market with the MV Brahmaputra, enhancing investment. The Inland Waterways Authority of India aims to develop 51 new circuits by 2027.
