India Global Trade Vision and Maritime Self-Reliance Initiatives

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Union Commerce and Industry Minister Piyush Goyal highlighted India’s proactive trade diplomacy during the G20 trade ministers’ meeting, emphasizing measures to prevent global overcapacity and dumping practices from harming fair trade ecosystems. He showcased India as a premier hub for data centers, citing low-cost green energy, talent pool, and tax incentives up to 2047, alongside ongoing negotiations for free trade agreements expected to cover over $70 trillion of global GDP. Concurrently, Union Minister Sarbananda Sonowal addressed the 65th anniversary of the Shipping Corporation of India (SCI), asserting India’s transition from ship ownership to indigenous shipbuilding under Maritime Amrit Kaal Vision 2047. SCI is projected to achieve a PAT exceeding ₹2,000 crore this fiscal year through strategic fleet expansion and joint ventures. Furthermore, Chennai Port Authority inaugurated the HAIAN CVI container service, creating direct monthly maritime links connecting Chennai with Malaysia, Vietnam, and South China to strengthen regional supply chains and support a bilateral trade target of $25 billion with Vietnam by 2030.

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