India has outlined an ambitious plan to become one of the world’s top five shipbuilding nations by 2047, as part of a broader national strategy to expand its maritime capabilities through investment, modernization, and international cooperation.
Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal announced the initiative during the opening of India Maritime Week 2025, held in Mumbai on 27 October 2025. The forum, hosted by the Ministry of Ports, Shipping and Waterways (MoPSW), gathered senior officials, policymakers, and maritime leaders from over 85 countries under the theme “Uniting Oceans, One Maritime Vision.”
Sonowal highlighted that India’s maritime sector has seen significant growth over the past 11 years under the leadership of Prime Minister Narendra Modi, particularly in building domestic capabilities and advancing self-reliance. The combined handling capacity of major ports has almost doubled, increasing from 1,350 million tonnes per annum (MTPA) to more than 2,700 MTPA. In comparison, total cargo throughput has grown from 976 million metric tonnes (MMT) to over 1,600 MMT. Cargo movement via inland waterways has risen by 400%.
The minister also stressed India’s focus on strengthening its shipbuilding, repair, and recycling infrastructure to reduce reliance on foreign services, which currently cost the country $70–75 billion annually. The government’s objective is to build self-sufficiency across the entire maritime value chain, enabling job creation, attracting investment inflows, and generating foreign exchange savings.
During the event, the ministry confirmed plans to sign approximately 680 Memorandums of Understanding (MoUs), valued at around ₹10 lakh crore, covering shipbuilding, green fuel, port modernization, and logistics. Investment allocations include ₹1.5 lakh crore for shipbuilding and allied activities, ₹1.7 lakh crore for green energy and sustainability initiatives, and another ₹1.5 lakh crore for port upgrades and logistics development.
A key milestone on the opening day was the Maritime Cooperation MoU signed between India and the Netherlands, accompanied by a Letter of Intent to develop a Green and Digital Sea Corridor connecting Indian ports with the Port of Rotterdam. Additional business agreements worth approximately ₹55,000 crore were signed with both domestic and international companies to advance innovation and sustainability.
Describing the event as a “turning point” in India’s maritime evolution, Sonowal said the nation aims to triple its share in global trade by 2047 through digitalization, regulatory reforms, and enhanced capacity. He added that training initiatives over the past decade have built a skilled workforce, reinforcing India’s competitiveness in the global maritime industry.
