In a pre-budget meeting with experts and stakeholders today in New Delhi, the Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said the government is committed to developing a sustainable, world-class maritime and inland waterways infrastructure to enhance export and import (Exim) trade and support economic growth.
The ministry is spearheading several strategic initiatives including the Sagar Mala programme, with projects worth Rs 5100 crore and the Shipbuilding Financial Assistance Policy supporting shipyards to strengthen India’s maritime sector, focusing on sustainable and world-class infrastructure.
The Harit Nauka initiative is expected to promote green fuel transportation in inland waterways, while the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (Sole) aims to support financing to boost ship acquisition and Indian ownership. Major projects such as Vadhavan Mega Transshipment Port and Galathea Bay Transshipment Port are set to generate significant employment and increase handling capacity. The Cruise India Mission also seeks to triple cruise traffic and Odisha Waterway Development is exploring the feasibility to transport cargo through NW5.
Policy reforms in tax and GST, support for shipbuilding and green initiatives underscore the ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector.
Appreciating the participation of the stakeholders in the discussion, the Union Minister said, “The enthusiastic participation and valuable contributions from our stakeholders are truly commendable. This interaction has given the ministry with insightful perspectives, that will undoubtedly help in shaping a more inclusive and growth-oriented budget, aligned with Prime Minister’s ambitious vision of MIV 2030 and Amrit Kaal Vision 2047.”
“The government’s focus is on building a robust maritime ecosystem that supports economic growth and environmental sustainability. With projects like the Vadhavan Mega Transshipment Port and the Cruise India Mission, MoPSW is poised to make India a global maritime hub,” he added.
The discussions aligned with the MIV 2030 Vision, aiming to make India a USD five trillion economy and Amrit Kaal Vision 2047, which envisions India as a developed nation with a robust economy, vibrant culture, prominent global presence and a thriving shipping sector.
The meeting witnessed active participation of more than 150 stakeholders (including online as well) from Major Ports, Shipping sector, Inland Waterways Authority of India (IWAI), Directorate General of Shipping (DG Shipping) and representatives from Ficci, CII, National Union of Seafarers of India, Assocham, Shipyard Association of India, Maersk, DP World, JM Baxi, TCI Seaways, MSC, among others.
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