India’s maritime sector is advancing with great speed and energy: PM at IMW 2025

Prime Minister Mr Narendra Modi addressed the Maritime Leaders Conclave and chaired the Global Maritime CEO Forum at India Maritime Week 2025 in Mumbai on Wednesday. He remarked that the event began in Mumbai in 2016 and expressed happiness that it has now evolved into a global summit. He highlighted that participation from over 85 countries sends a strong message. He noted the presence of CEOs of major shipping giants, start-ups, policymakers, and innovators, all gathered at the event. He further acknowledged the attendance of representatives from small island nations and stated that their collective vision has significantly enhanced the synergy and energy of the summit.

Noting that several projects related to the shipping sector have been launched at the conclave, Mr Modi highlighted that Memorandums of Understanding worth lakhs of crores of rupees have also been signed in the shipping sector. The Prime Minister remarked that this reflects the global confidence in India’s maritime capabilities, adding that the presence of participants at the event stands as a symbol of their common commitment.

 

 

“In the 21st century, India’s maritime sector is advancing with great speed and energy”, emphasised the Prime Minister highlighting that the year 2025 has been particularly significant for the sector and shared key achievements. He remarked that Vizhinjam Port, India’s first deep-water international transhipment hub, is now operational, noting that the world’s largest container vessel recently arrived at the port, marking a proud moment for every Indian. He further stated that in 2024-25, India’s Major Ports have handled the highest cargo volumes ever, setting a new record. He announced that for the first time, an Indian port has launched a megawatt-scale indigenous green hydrogen facility, an achievement credited to Deendayal Port. He added that another major milestone has been achieved at JNPA, where Phase 2 of the Bharat Mumbai Container Terminal has commenced. “This has doubled the terminal’s handling capacity, making it India’s largest container port”, said the Prime Minister, emphasising that this was made possible due to the largest FDI in India’s port infrastructure and expressed special gratitude to partners from Singapore for their contribution.

Next-generation reforms

Prime Minister stated that this year, India has taken major steps towards next-generation reforms in the maritime sector. “The colonial shipping laws, over a century old, have been replaced with modern and futuristic legislation suited for the 21st century”, said the Prime Minister, remarking that these new laws empower State Maritime Boards, strengthen safety and sustainability, and expand digitisation in port management. 

Further noting that under the Merchant Shipping Act, Indian laws have been globally aligned with international conventions, Mr Modi said, this alignment has enhanced trust in safety standards, improved ease of doing business, and reduced government intervention. He expressed confidence that these efforts will further boost the confidence of stakeholders and investors.

Prime Minister stated that the Coastal Shipping Act has been designed to simplify trade and strengthen supply chain security. He emphasized that the Act ensures balanced development along India’s extensive coastline. Highlighting the One Nation, One Port Process, which will standardise port-related procedures and significantly reduce documentation requirements, Mr Modi remarked that these reforms in the shipping sector are a continuation of India’s decade-long reform journey. Reflecting on the past ten to eleven years, he noted that the transformation in India’s maritime sector has been historic. Under the Maritime India Vision, more than 150 new initiatives have been launched, resulting in nearly doubling the capacity of major ports, substantial reduction in turnaround time, and a new momentum in cruise tourism. The Prime Minister added that cargo movement on inland waterways has increased by over 700%, with the number of operational waterways rising from three to thirty-two. He further stated that the net annual surplus of Indian ports has increased nine-fold over the past decade.

“India’s ports are now counted among the most efficient in the developing world, and in many cases, are outperforming ports in the developed world”, exclaimed the Prime Minister. He shared key performance statistics, noting that the average container dwell time in India has reduced to less than three days, which is better than several developed nations. He highlighted that the average vessel turnaround time has dropped from ninety-six hours to just forty-eight hours, making Indian ports more competitive and attractive for global shipping lines. Mr Modi added that India has shown significant improvement in the World Bank’s Logistics Performance Index. 

Focus areas

Remarking that a quarter of the 21st century has passed, and the next 25 years are even more critical, he emphasised that India’s focus is on the Blue Economy and Sustainable Coastal Development. He highlighted the government’s strong emphasis on green logistics, port connectivity and coastal industrial clusters. 

“Shipbuilding is now among India’s top priorities”, underscored the Prime Minister. Underlining that ships built in India were once a vital part of global trade, Shri Modi noted that India later advanced in the ship-breaking sector and is now accelerating efforts to reach new heights in ship-making. He mentioned that India has granted infrastructure asset status to large ships, a policy decision that will open new avenues for all shipbuilders present at the event. He highlighted that this will provide new financing options, reduce interest costs and ease access to credit. To propel this reform, the Prime Minister declared that the government will invest nearly `70,000 crore. This investment will enhance domestic capacity, promote long-term financing, support the development of greenfield and brownfield shipyards, build advanced maritime skills, and generate millions of jobs for youth. He added that this initiative will also unlock new investment opportunities for all stakeholders.

Emphasising India’s commitment to strengthening global supply chain resilience and noting that the country is actively building world class mega ports, Shri Modi announced that a new port is being constructed in Vadhvan, Maharashtra at a cost of `76,000 crore. He added that India is working to quadruple the capacity of its Major Ports and increase its share in containerised cargo. The Prime Minister affirmed that all stakeholders present are key partners in achieving these goals and welcomed their ideas, innovations and investments. He reiterated that India permits 100% FDI in ports and shipping, and that public-private partnerships are rapidly expanding. Under the “Make In India, Make For The World” vision, incentives are being provided, and states are being encouraged to attract investments. He urged investors from various countries to seize this moment to engage and expand in India’s shipping sector, stating that this is the right time.

He emphasized that India’s maritime and trade initiatives are integral to this broader vision. Citing the India–Middle East–Europe Economic Corridor as an example, he noted that it will redefine trade routes and promote clean energy and smart logistics, as per a release.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!