India Aims To Become One Of The World’s Top 5 Shipbuilding Nations By 2047

India aims to become one of the world’s top five shipbuilding nations by 2047, as part of its long-term plan to strengthen the maritime sector through large investments, modernisation, and global partnerships.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal shared this vision while speaking at the opening of India Maritime Week 2025 in Mumbai on October 27.

The event, organised by the Ministry of Ports, Shipping and Waterways (MoPSW), brought together leaders, policymakers, and industry experts from over 85 countries under the theme “Uniting Oceans, One Maritime Vision.”

Sonowal said that under Prime Minister Narendra Modi’s leadership, India’s maritime sector had made major progress over the past 11 years, focusing on self-reliance and indigenous capacity building. He noted that the capacity of major ports had nearly doubled, from 1,350 million tonnes per annum (MTPA) to more than 2,700 MTPA, and total cargo handled at Indian ports had grown from 976 million metric tonnes (MMT) to over 1,600 MMT.

He added that cargo movement through inland waterways had increased by 400 per cent. India is also working to develop shipbuilding, repair, and recycling facilities within the country to reduce dependence on foreign companies. The minister mentioned that India currently spends around USD 70-75 billion every year on such foreign services.

According to Sonowal, the government wants India to be self-sufficient across the entire maritime value chain, from shipbuilding to repair and recycling. This would save foreign exchange, create new jobs, and attract major investments.

During the event, the ministry announced plans to sign around 680 Memorandums of Understanding (MoUs), worth ₹10 lakh crore across different parts of the maritime sector.

Officials said that ₹1.5 lakh crore would go into shipbuilding and related activities, ₹1.7 lakh crore into green fuels and sustainability, and another ₹1.5 lakh crore into port modernisation and logistics.

A key highlight of the opening day was the signing of an MoU on Maritime Cooperation between India and the Netherlands, along with a Letter of Intent to establish a Green and Digital Sea Corridor linking Indian ports with the Port of Rotterdam.

Additionally, business MoUs worth around ₹55,000 crore were signed with leading Indian and global companies to support innovation and sustainability in the sector.

Sonowal described India Maritime Week 2025 as a “turning point” in the country’s maritime journey and said India aims to triple its share in global trade by 2047 through digitalisation, policy reforms, and capacity expansion.

He also mentioned that the capacity-building initiatives launched over the past decade have created a skilled workforce, which is helping improve India’s maritime performance and competitiveness.

References: thestatesman, theweek

Source: Maritime Shipping News