Maritime Projects

Sagarmala Finance Corp to raise ₹8,000 crore to boost maritime sector

Sagarmala Finance Corporation Limited (SMFCL) will raise Rs 8,000 crore in the current financial year from banks, financial institutions and through bonds to further boost the maritime prowess of the nation. SMFCL, formerly known as Sagarmala Development Company Limited, is India's first maritime sector-specific Non-Banking Financial Company. It was formally registered as an NBFC with the Reserve Bank of India (RBI) on June 19, 2025. SMFCL in a statement said in a recently held annual general meeting , the board approved a proposal to raise Rs 8,000 crore in the current financial year. It also approved the overall borrowing limit of Rs 25,000 crore. "For achieving this SMFCL shall raise the fund from various bank and financial institutions and through bonds in accordance with the resource mobilization plan and start lending operations soon," it said. The corporation comes under Ministry of Ports, Shipping and Waterways. It aims to bridge the financial gaps in the maritime sector,

India's maritime strength linking Indo-Pacific and Global South: Amit Shah

Shah emphasized India's maritime strength and strategic location, inviting global investors to tap into the sector's vast potential

Cabinet clears ₹69,725 cr package to boost shipbuilding, maritime sector

Union Cabinet approves ₹69,725 crore maritime reforms package to build shipyards, expand clusters, provide long-term funding and strengthen India's shipbuilding capacity

Union Cabinet likely to consider ₹70,000 cr maritime initiatives soon

Queries sent to the ministry of ports shipping and waterways remained unanswered at the time of going to press

India, Japan explore maritime, regional ties in Indo-Pacific region

India and Japan continued to deepen their partnership on maritime connectivity and regional cooperation in the Indo-Pacific region during a seminar titled "IPOIAmbassador of India to Japan, Sibi George, delivered the inaugural remarks at the event, which featured special addresses by Japan's former Defence Minister and MP H.E. Mr. Minoru Kihara, India's Secretary (East) H.E. Mr. P. Kumaran, and H.E. Mr. Shingo Miyamoto, Director General at Japan's Ministry of Foreign Affairs (MOFA). The discussions focused on strengthening India-Japan cooperation on maritime linkages across the Indo-Pacific region.The Indian Embassy later shared highlights of the event in a post on social media platform X, "Glimpses of a seminar on "IPOI: India-Japan Partnership in Maritime Connectivity" held at the Embassy. Ambassador @AmbSibiGeorge delivered the inaugural remarks at the event, which also featured special remarks by H.E. Mr. Minoru Kihara, Hon'ble MP & former Defence Minister, H.E. Mr. P. ...

India seeks re-election to IMO Council, highlights maritime growth plans

India has presented its candidature for re-election to the International Maritime Organisation (IMO) Council at the organisation's 134th session in London, where the Ministry of Ports, Shipping and Waterways highlighted key aspects of maritime safety and gender inclusivity. At a special India-themed reception at the IMO Headquarters on Thursday evening, Ministry Secretary T K Ramachandran and Indian High Commissioner to the UK Vikram Doraiswami announced the decision to seek re-election in Category B of the Council. The election for the 2025-26 biennium will take place at the organisation's Assembly later this year and follows India's re-election with the highest tally back in December 2023. India embraces the philosophy of One Earth, One Family, One Future, and we bring this vision to life through fostering robust and collaborative maritime efforts, said Ramachandran in his address at the reception. Under our Vision 2047, we see maritime growth as a corner of global progress, and

Maritime sector key to India's vision of 3rd largest economy: VP Dhankhar

India's maritime sector is poised to play a transformative role in the country's vision of becoming world's third-largest economy, Vice President Jagdeep Dhankhar said Wednesday. Today, India stands as an emerging maritime powerhouse, strategically leveraging its geographical location and advanced infrastructure to spearhead global maritime initiatives, the Vice President said. "With the global blue economy projected to reach USD 6 trillion by 2030, India's maritime sector stands poised to play a transformative role in our emergence as the world's third-largest economy," he said at the Indian Maritime Heritage Conclave (IMHC) 2024. India is strategically developing its blue economy, emphasising sustainable ocean resource utilisation for economic growth and employment generation, Dhankhar said. The government's Sagarmala programme integrates ports with industrial clusters, optimising logistic networks, fostering comprehensive coastal development. The Coastal Shipping Bill 2024 ...

Preserving heritage: PM Modi invites ideas for Lothal's maritime complex

The National Maritime Heritage Complex will revive ancient Lothal as a mini-replica of the historic dock city. At the heart of this complex will be an iconic 77-metre lighthouse museum

India to approve Rs 25,000 crore for shipbuilding and infrastructure

India's Maritime Development Fund (MDF) is likely to receive a Rs 25,000 crore boost to support low-cost, long-term indigenous manufacturing projects

US, Sri Lanka to conduct joint maritime drill ahead of Iranian Prez's visit

The US Navy, the US Marine Corps, and the Sri Lankan Navy will conduct a bilateral maritime joint exercise from Monday, including anti-terrorism manoeuvres, the American mission here said. The joint exercise called the Cooperation Afloat Readiness and Training (CARAT) gets underway two days before the proposed visit of Iran President Ebrahim Raisi to the island nation to inaugurate an Iranian-funded hydropower project. However, the confirmation of the visit, happening in the current backdrop of Israeli-Iranian tensions, is yet to be announced by the Sri Lankan authorities. CARAT Sri Lanka will feature the expertise of the US Fleet Anti-Terrorism Security Team (FAST), a US Marine Corps unit specialised in security and anti-terrorism for naval assets, engaging alongside their Sri Lanka Navy Marine counterparts on a full spectrum of naval capabilities, according to an official press release. The CARAT Sri Lanka bilateral maritime exercise underscores the strong partnership and shared

Navy holds operation in Arabian Sea, demonstrating operation readiness

"Piracy has resurfaced as an industry to gain from the disorder in the region. We will take affirmative action to prevent that," the Navy chief said

CSIR-NIO launches advance underwater vehicle to monitor coral reefs

The Goa-based CSIR-National Institute of Oceanography (NIO) has launched an autonomous underwater vehicle called C-bot, a robot with advanced features for increased surveillance over the coral reefs. Council for Scientific and Industrial Research (CSIR) Director General Dr N Kalaiselvi launched the C-bot on Sunday and said the vehicle can travel to a depth of 200 metres underwater. This robot is the first step to building a capable underwater vehicle that can scan the depth of the Indian Ocean, she told reporters on the CSIR-NIO campus on Monday. Kalaiselvi said they plan to develop this vehicle further which will be able to travel thousands of metres in the sea. CSIR-NIO Director Sunil Kumar Singh said the C-bot will help in maintaining surveillance over the coral reefs in the ocean. He said that coral bleaching is taking place because of the climate change. "With different sensors, different cameras, the robot measures what the parameters are, and might help explain why the cor

Japan's ship Yashima arrives in Chennai for joint exercise with ICG

The Japan Coast Guard ship Yashima has arrived in Chennai to conduct a joint exercise with the Indian Coast Guard.Upon its arrival, the JCG Ship was given a traditional welcome with a ceremonial band, NCC cadets and students from local schools.The Indian Coast Guard on Thursday shared a post on X, stating, "Japan Coast Guard Ship Yashima arrived #Chennai for joint exercise with @IndiaCoastGuard. JCG Ship was given traditional welcome by delegation from Regional HQ (East) with ceremonial band, NCC cadets & students from local schools."Earlier on Wednesday, the Commanding Officer of JCG Ship Yashima, Captain Yuichi Motoyama, called on IG Donny Michael, Tamil Nadu, Commander Coast Guard Region (East) at Chennai.They further discussed avenues to strengthen bilateral cooperation by sharing expertise as well as, best practices were discussed."Captain Yuichi Motoyama, Commanding Officer, Japan Coast Guard Ship Yashima called on IG Donny Michael, TM, Commander Coast Guard Region (East) .

INS Kabra docks in Colombo, move aimed at boosting maritime cooperation

Indian warship, INS Kabra, an indigenous fast attack craft, docked at the Colombo port on Monday, in a move aimed at fostering bilateral ties between the two countries.The warship was accorded a warm welcome by the Sri Lankan Navy as it arrived in the island nation, the Indian Navy said in an official press release.During the port call, the Commanding Officer, INS Kabra called on the Commander, Western Naval Area, Rear Admiral TSK Perera.The Navy informed through a statement, "In a presentation ceremony, essential spares and stores meant for the Sri Lanka Navy and Air Force were handed over by the ship. The visit further strengthens the bilateral cooperation and camaraderie between the two Navies in keeping with the Prime Minister's vision of SAGAR."Taking to its official X handle, the Indian Navy posted, "#INSKabra, the indigenous Fast Attack Craft, arrived #Colombo, #08Jan 24 The ship was accorded warm welcome by @srilanka_navy Handed over essential spares for #SriLankaNavy & .

India needs to overcome challenges to become a maritime power: Prez Murmu

India needs to overcome several challenges, including addressing infrastructural and operational challenges of the country's ports, before it can fully exploit the maritime potential, President Droupadi Murmu said on Friday. Though the conservative apprehensions about crossing the sea cost us dearly, India had to come out of the yoke of 200 years of colonial rule. It became more focused on continental development, forgetting that continental development and maritime development are mutually complementary, she said. "We, of course, also lacked the economic and industrial resources to fully establish a strong maritime presence," the President said while speaking at the 8th convocation of the Indian Maritime University (IMU), Chennai. Before the country could fully exploit the potential of this sector, India should overcome several challenges. "For example, a lot of container ship cargo is diverted to nearby foreign ports due to depth restrictions. In the merchant and civilian ship ...

Govt identifies 300 initiatives for expansion targets under Maritime Vision

Tax sops for coastal shipping, incentives for PPP, PLI for green shipping on cards

34 pacts worth Rs 3.24 trn signed on Day 1 of Global Maritime India Summit

As many 34 agreements worth Rs 3.24 lakh crore were signed on the first day of the three-day Global Maritime India Summit, which was addressed by Prime Minister Narendra Modi through video conferencing. The signing of these pacts underlined the commitment of various stakeholders to transform India into a maritime powerhouse, the shipping ministry said. Besides Modi and Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the summit was also attended by Maharashtra Governor Ramesh Bais, Maharashtra Chief Minister Eknath Shinde, the two ministers of state in the Ministry of Ports, Shipping and Waterways (MoPSW) -- Sripad Naik and Shantanu Thakur, officials from the MoPSW, and other stakeholders. "Our prime minister's vision for transformation for transportation has seen radical growth in the coastal and inland waterways," Sonowal said in his speech. "Embarking on a transformative journey towards a brighter maritime future. The rise of 'smart ports' will revolutionize

Rs 10 trn investment, over 300 MoUs on cards during Maritime Summit

Sonowal said that this is the 3rd edition of the Global Maritime India Summit 2023 before this it was also organized in 2016 and 2021

India still a long way from utilising its waterways trade potential

Just 2% of country's cargo transported via navigable waterways; Vietnam at 18% & China 14%

Lothal complex represents resolve to celebrate India's maritime history: PM

Prime Minister Narendra Modi on Tuesday said the National Maritime Heritage Complex coming up at Lothal near here represents the country's resolve to celebrate its rich maritime history. The long period of slavery and indifference towards India's maritime strength made us forget about Lothal and Dholavira, and the complex will act as a centre for learning about and understanding India's diverse maritime history, he said. The prime minister was speaking after reviewing, through video conference, the construction of the complex. "Centuries ago, India's trade was spread over a large part of the globe. We had a relationship with all the civilisations of the world. India's maritime strength had a big role to play in this," Modi said. "The long period of slavery not only broke this capability of India, but with time, we Indians also became indifferent towards this. We forgot that we have great heritage like Lothal and Dholavira that were famous for maritime trade," he said. "We had gre