During the Business Standard Infrastructure Summit, maritime industry experts Amit Singh and Kapil Mahajan stated that shipbuilding, logistics, and ports are key to India’s “blue economy”. Singh noted that India has lagged in shipbuilding for two decades, accounting for only 0.06% of global shipbuilding and controlling only 3% of its own maritime tonnage. He emphasized the need to significantly increase this market share in the next 15-20 years.
The experts praised government initiatives like the Amrit Kaal Vision 2047, which outlines ₹10 trillion in investments to make India a maritime power, with ₹4 trillion dedicated to indigenous shipbuilding. The Maritime Development Fund’s allocation has also been increased. India’s ranking in the World Bank’s Logistics Performance Index has also improved, moving from 44th in 2014 to 32nd in 2023 for international shipments. However, global uncertainties, such as U.S. tariffs and ongoing wars, have negatively impacted India’s logistics sector, disrupting demand patterns and making future trends difficult to predict. Mahajan also stressed the need for India to develop its own technological platforms for logistics.