India is setting sail on an ambitious course to become self-reliant in shipbuilding and emerge among the world’s top five shipbuilding nations by 2047, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal announced at the India Maritime Week 2025 (IMW 2025) in Mumbai on Sunday.
Highlighting the need to strengthen India’s maritime self-sufficiency, Sonowal said the country currently pays $70–75 billion annually to foreign shipping firms due to its dependence on foreign-flagged vessels. “We will increase our own fleet and flagged ships so that we can save ₹4–5 trillion every year. That is our aim — to become self-reliant,” he said.
As part of the government’s wider Maritime Amrit Kaal Vision, India has outlined plans to position itself as a global maritime leader by 2047, supported by investments worth ₹80 trillion and the creation of 1.5 crore jobs. Of this, nearly ₹54 trillion will be directed towards building indigenous shipbuilding and shipping capacity, with a strong focus on green and sustainable maritime practices.
MoPSW Secretary Vijay Kumar added that the government is set to sign MoUs worth ₹10 trillion during IMW 2025, with ₹1.55 trillion earmarked for the shipbuilding segment alone. “IMW 2025 marks the beginning of transformational national initiatives — from major fleet acquisition programmes and $10-billion shipbuilding reforms to the next phase of India’s green maritime transition,” Kumar said.
Over the past decade, India’s maritime sector has undergone significant expansion. Sonowal noted that the nation’s port capacity has doubled from 1,350 million tonnes per annum (MTPA) to 2,700 MTPA, while total cargo handled has grown from 976 million metric tonnes (MMT) to 1,640 MMT. Coastal shipping volumes have risen by 77%, and inland waterway cargo has grown remarkably from 6.9 MMT to 145 MMT.
“Looking ahead to 2047, India aims to quadruple port capacity to 10,000 MTPA, achieve a tenfold increase in cruise tourism, and boost the share of coastal and inland waterways cargo to 12% in the national modal mix,” Sonowal said.
Inaugurating the event, Union Home Minister Amit Shah emphasized the government’s commitment to transforming India into a global maritime hub, noting that the budget for the maritime sector has been increased sixfold — from $40 million to $230 million. He cited the $10-billion Vadhavan Port in Maharashtra and the $5-billion Great Nicobar Project as landmark developments that will redefine India’s role in global trade.
Maharashtra Chief Minister Devendra Fadnavis, also speaking at the event, said that Vadhavan Port is poised to become one of the top 10 global ports, with groundwork already in progress. Under the Sagarmala programme, he said, 839 projects worth $70 billion have been identified for completion by March 2025, of which 272 projects worth $17 billion have already been completed. He also highlighted that India’s largest dock is under development at Cochin Shipyard with an investment of $200 million.
The fourth edition of India Maritime Week has drawn an impressive global presence, with 100,000 delegates from 85 countries, 11 global ministers, five Indian chief ministers, five Union cabinet ministers, over 50 ambassadors, and CEOs of leading maritime firms. More than 400 exhibitors are showcasing cutting-edge technologies and sustainable innovations shaping the future of global shipping.
With massive investments, policy reforms, and global collaborations, India’s shipbuilding sector is steering confidently toward a new era of maritime independence and leadership on the world stage.
