Shipping ministry receives ₹10 trn investment commitments: Secy Vijay Kumar

The investment interests are meant for various locations within the country and have been received from both international and domestic private and public sector companies

The Ministry of Ports, Shipping, and Waterways (MoPSW) has received ₹10 lakh crore investment commitments from companies to set up projects across the country to boost the maritime sector, Secretary Vijay Kumar said on Tuesday.

 

The memorandums of understanding (MoUs) for the investments will be signed during the ministry's flagship event, India Maritime Week 2025, in Mumbai later this month.

 

Kumar said the ministry has received investment interests worth ₹3 lakh crore for shipbuilding and shipping clusters, ₹2 lakh crore for sustainability in the maritime sector, ₹2 lakh crore for port modernisation, over ₹1 lakh crore for portland industrialisation, ₹1 lakh crore for knowledge sharing, and ₹1 lakh crore for trade & business.

 

The investment interests are meant for various locations in the country and have been received from both international and domestic private and public sector companies.

 

Briefing the media about the event, Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, said the country is targeting global leadership in the maritime sector by 2047, with planned investments worth ₹80 lakh crore, creation of 1.5 crore jobs, and a strong push for green shipping as part of the Maritime Amrit Kaal Vision.

 

India currently accounts for just 0.06 per cent of the global shipbuilding market and controls only 5 per cent of its own maritime tonnage. Of the planned ₹80 lakh crore investment, around ₹54 lakh crore is expected to be spent on development of indigenous shipbuilding and shipping capabilities.

 

“The maritime sector of India is also aligned with the vision of Viksit Bharat@2047, and by 2047, we aim to witness large-scale investments, world-class infrastructure, and enhanced global competitiveness across our blue economy. This opens vast avenues for international collaboration, including a 1 trillion US dollars maritime investment roadmap," Sonowal added.

 

India Maritime Week 2025 is likely to host over 100,000 delegates and 500 exhibitors from 100 countries, including ministerial delegations from Singapore, the UAE, South Korea, Japan, and Denmark. Participants include the International Maritime Organization, UNESCAP, key Indian states, and major industry players like Adani Ports, Cochin Shipyard, and Paradip Port Authority.