Indian ports turning into logistics, industrial hubs: Shipping Secy to investors
Apr 25, 2026
Addressing investors at Singapore Maritime Week 2026, Mr Vijay Kumar, IAS, Secretary, Ministry of Ports, Shipping and Waterways, announced that India is transforming its ports into integrated industrial hubs. Since 2013-14, cargo capacity has doubled to 2,771 MTPA, with a target of 10,000 MTPA by 2047. Mr Kumar detailed a `2.2 lakh crore vessel acquisition plan, noting that tenders for 34 vessels are already receiving strong domestic participation. To support this, the government has launched a `69,725-crore revitalisation package, including the `25,000-crore Maritime Development Fund.
Notable commercial successes include CMA CGM ordering six dual-fuel LNG vessels from Cochin Shipyard and Rederiet Stenerson booking six tankers with Swan Defence. With GIFT City IFSC emerging as a maritime financial hub, India aims to place its flagged ships in the global top five for gross tonnage by 2047, he added, as per a report.
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