India to boost local fleet to achieve shipbuilding self-reliance: Sonowal

Sonowal said that in the past 11 years, India's port capacity has doubled from 1,350 million tonnes per annum (MTPA) to 2,700 MTPA

India is eyeing self-reliance in shipbuilding by increasing its domestic fleet and aims to be among the top-five nations in the segment by 2047, Sarbananda Sonowal, minister of ports, shipping and waterways, said on Monday.

 

“Since we do not have ships, we pay $70-75 billion every year to foreign shipping firms. We will increase our own fleet and flagged ships so that we can save ₹4-5 trillion every year. That is our aim to become self-reliant,” Sonowal said, speaking at the India Maritime Week 2025 (IMW 2025) in Mumbai.

 

The government is set to sign memorandums of understanding (MoUs) worth ₹10 trillion at the event, of which ₹1.55 trillion will be directed towards the shipbuilding segment, the ministry’s secretary Vijay Kumar said.

 

India is targeting global leadership in the maritime sector by 2047, with planned investments worth ₹80 trillion, creation of 15 million jobs. It is also seeking a strong push for green shipping as part of the Maritime Amrit Kaal Vision.

 

Of the planned ₹80-trillion, around ₹54 trillion is set to be spent on development of indigenous shipbuilding and shipping capabilities.

 

Kumar said IMW 2025 marks the launch of transformational national initiatives in India. This includes the recently-announced major fleet acquisition programmes, shipbuilding reforms worth more than $10 billion and green maritime transition for the next era of ocean governance.

 

Sonowal said in the past 11 years, India's port capacity has doubled from 1,350 million tonnes per annum (MTPA) to 2,700 MTPA.

 

Cargo handled at all Indian ports increased from 976 MTPA to over 1,640 MTPA, and coastal shipping cargo has seen a rise of 77 per cent from 123 MTPA to 218 MTPA. Inland waterways cargo has grown form 6.9 MTPA to 145 MTPA.

 

“Looking ahead to 2047, India aims to quadruple port capacity to 10,000 MTPA, enable 10-fold growth in cruise tourism and increase the share of coastal and inland waterways cargo to 12 per cent in the modal mix,” Sonowal said.

 

Inaugurating the event in Mumbai, home minister Amit Shah said in order to propel India towards becoming a global maritime leader by 2047, the government has increased the sector's budget sixfold, from $40 million to $230 million.

 

He also informed that the $10 billion Vadhavan Port in Maharashtra and the $5 billion Great Nicobar project will boost India’s global maritime trade.

 

Speaking at the event, Maharashtra Chief Minister Devendra Fadnavis said the Vadhavan Port will become one of the top 10 global ports once operational.

 

He said under the Sagarmala project, 839 projects worth $70 billion have been identified for completion by March 2026. Of this, 272 projects worth $17 billion have already been completed. Also, India’s largest dock is being developed at Cochin Shipyard with an investment of $200 million.

 

The fourth edition of the IMW is witnessing participation from 100,000 delegates from 85 countries, 11 global ministers, five Indian chief ministers, five Cabinet ministers, more than 50 ambassadors, and chief executives of large global maritime companies. More than 400 exhibitors are showcasing technologies at the event.