Yesterday, I was in Mumbai to attend the Maritime Leaders Conclave as part of the ongoing India Maritime Week 2025. Mumbai, as we all know, has a strong link with India’s maritime sector. There are historical linkages with Chhatrapati Shivaji Maharaj, and today, it has a vibrant port infrastructure and is a key trading centre for our nation. I met key CEOs and interacted with leading stakeholders of the sector. In these interactions, it was gladdening to see the optimism towards India in furthering port-led development.
We became disconnected from our roots:
India’s proud maritime heritage is well known. We were always known for shipbuilding and coastal trade. We are the land of the Cholas and the Marathas, whose naval might, trading impact and strategic brilliance became pathways of progress and power. Their vision showed us how the oceans can serve as bridges of opportunity.
However, a decade ago, when we assumed office, India’s maritime sector was filled with outdated laws and limited capacities. This was not acceptable to us. And, with a focus on infrastructure, reforms and public participation, the sector has witnessed many transformations over the last eleven years. Today, the sector stands transformed as a symbol of modern infrastructure, global trust and national pride.
Maritime Growth That Redefined Scale:
These facts speak for themselves…
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.
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% to 43%, marking a new era of efficiency.
This is not all. At the core of every ship and port are our skilled seafarers.
India’s seafarer workforce has grown from 1.25 lakh to over 3 lakh, now accounting for 12% of the global seafaring workforce. India is today among the top three suppliers of trained seafarers in the world.
Shipping and Waterways - The New Engines of Growth:
India’s shipping power is expanding across coasts and rivers.
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%, from 18 MMT in 2014 to 146 MMT in 2025. Operational waterways expanded from 3 to 32, while ferry and Ro-Pax services carried 7.5 crore passengers in 2024–25.
Modern Ports, Green Future:
Our vision for the Maritime sector places topmost importance on sustainability and innovation.
Vizhinjam Port has become India’s first deep-water transhipment hub. Kandla Port hosts the nation’s first green hydrogen facility. 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 ₹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.
Reform, Perform, Transform:
Reform has powered India’s progress at sea.
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.
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.
Come, invest in India:
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.
Thanks to our youth, our ecosystem is primed for innovation.
Come aboard!
