Prime Minister Narendra Modi is scheduled to interact with global shipping CEOs and delegates from around 100 nations in October to attract investments into India’s maritime sector. The government has outlined a ₹10 trillion investment roadmap for shipping, ports, and shipbuilding, which includes ₹4 trillion for indigenous shipbuilding capabilities. The goal of this initiative is to propel India into becoming a global maritime power.
The government is pushing for private sector participation to achieve its vision, with a plan to increase the private share in major ports to 85% by 2030. The minister also pointed out that cargo movement by inland waterways has increased sevenfold in the past decade, and coastal shipping has grown by over 150%. The minister credits the current government with having a strong vision for the maritime sector.