New Delhi, Oct 30: Prime Minister Narendra Modi on Thursday invited international companies to invest in the maritime sector in India which has infrastructure, innovation and intent to emerge as a global leader in the area.
In a LinkedIn post, Modi said the government has simplified laws, developed ports and approved an umbrella package of Rs 70,000 crore for the maritime sector, with a focus also on promoting shipbuilding.
The prime minister addressed the Maritime Leaders Conclave in Mumbai on Wednesday evening and interacted with key CEOs and leading stakeholders of the sector.
He said since assuming office in 2014, the maritime sector has witnessed many transformations with a focus on infrastructure, reforms and public participation.
“Today, the sector stands transformed as a symbol of modern infrastructure, global trust and national pride,” Modi said.
“I can say with confidence that India offers the perfect harbour for investments. We have a very long coastline. We have strategic global trade routes, we have world-class ports, and, we have an ambitious vision for Blue Economy growth. We have infrastructure, innovation and intent,” the prime minister said.
PM Modi said five landmark bills, from the Bills of Lading Bill to the Indian Ports Bill (2025), have modernised maritime governance, simplified trade, empowered states and aligned India with global standards.
“To accelerate this growth, the government has approved a Rs 70,000 crore umbrella package for the maritime sector,” Modi said.
He said the Shipbuilding Assistance Scheme, Maritime Development Fund and Shipbuilding Development Scheme will attract over Rs 4.5 lakh crore in investment and help produce more than 2,500 vessels.
“This initiative will position India among the global leaders in shipbuilding and maritime innovation,” the prime minister said.
India’s port capacity has doubled from 1,400 to 2,762 MMTPA, cargo handling rose from 972 to 1,594 MMT, including 855 MMT in FY 2024-25, he added.
The prime minister said vessel turnaround time has been reduced from 93 hours to 48 hours.
“Net surplus increased ninefold from Rs. 1,026 crore to Rs 9,352 crore. The operating ratio improved from 73 per cent to 43 per cent, marking a new era of efficiency,” Modi said.
The prime minister said India’s seafarer workforce has grown from 1.25 lakh to over three lakh and now accounts for 12 per cent of the global seafaring workforce.
“India is today among the top three suppliers of trained seafarers in the world,” Modi said.
The prime minister said Indian-flagged vessels increased from 1,205 to 1,549, and fleet gross tonnage grew from 10 MGT to 13.52 MGT. Coastal shipping cargo nearly doubled from 87 to 165 MMT.
Inland waterway cargo grew by 710 per cent, from 18 MMT in 2014 to 146 MMT in 2025. Operational waterways expanded from three to 32, while ferry and Ro-Pax services carried 7.5 crore passengers in 2024’25.
The prime minister said Vizhinjam Port has become India’s first deep-water transshipment hub, Kandla Port hosts the nation’s first green hydrogen facility and JNPT has doubled its capacity and attracted the largest FDI in port history.
“The Vadhvan Port project in Palghar, Maharashtra, with an investment of around Rs 76,000 crore, will be among the world’s few deep-draft ports at 20 meters. Its seamless railway and highway connectivity, proximity to the Delhi’Mumbai Expressway and the Western Freight Corridor will transform the region’s economic landscape, creating new opportunities for logistics, warehousing and trade,” Modi said. (PTI)
