Mumbai, October 2 (Daily Kiran) : Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal announced that India is rapidly emerging as a significant maritime power. Speaking at the 65th anniversary of the Shipping Corporation of India (SCI) in Mumbai, he highlighted the continuous expansion in the ports, shipping, and waterways sectors. The government aims to increase the number of Indian-flagged vessels to enhance the country’s self-reliance in maritime affairs.
During the event, Sonowal praised SCI’s crucial role in the nation’s maritime journey over the past 65 years and commended the company’s bold initiatives under various geopolitical circumstances. He noted that under Prime Minister Narendra Modi’s leadership, India’s maritime sector has received new direction.
The ceremony, themed “Sailing India’s Growth, Shaping Maritime Transformation,” showcased the increasing trade within India’s ports, shipping, and waterways sectors, which encompass inland waterways, coastal shipping, and maritime transport.
Sonowal revealed plans to add 436 new Indian-flagged vessels, aiming to raise the country’s gross tonnage capacity from 14 million GT to 19 million GT. Additionally, the government is working to boost shipbuilding capacity to 4.5 million GT. The target is to position India among the top five shipbuilding nations by 2047.
Currently, Indian-flagged vessels transport only five percent of the country’s export cargo, while 95 percent is handled by foreign shipping companies. This reliance results in an annual outflow of approximately $75 billion in foreign currency, according to Sonowal.
He pointed out that recent disruptions in the Red Sea, Black Sea, and Hormuz Strait have underscored the importance of adequate shipping capacity for the nation’s economic and energy security. The “Maritime Amrit Kaal Vision 2047” aims to place India among the top ten countries in shipping tonnage by 2030 and the top five by 2047.
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