India offers $1 trillion maritime investment opportunity for global players: Union Minister

New Delhi, Aug 28 (IANS) Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Thursday urged global investors to view India as a hub for investment and innovation, highlighting the government’s $1 trillion maritime investment roadmap.

The new opportunities in India’s maritime sector “open up a $1 trillion maritime investment roadmap, with strong potential for joint ventures in developing ports and cargo terminal operations, multi-modal terminals, maritime services, shipbuilding, ship recycling and ship repairs, green hydrogen hubs, and sustainable shipping solutions,” the minister said at an event here.

Sonowal was speaking at the Ambassadors’ Roundtable Meet hosted by the Shipping Ministry, which brought together envoys from 28 countries to discuss cooperation for India Maritime Week (IMW) 2025 -- scheduled for October 27-31 in Mumbai.

India Maritime Week is the Shipping Ministry’s biennial flagship platform bringing together policymakers, investors, and thought leaders to shape the future of Indian ports and logistics.

Further, the Union minister said that Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047 are shaping India’s ports, shipping and logistics ecosystem to be more resilient, sustainable and future-ready.

Key mega projects with investment opportunities are Vadhavan Port, Galathea Bay Transshipment Port, Tuna Tekra Terminal, LNG bunkering and green hydrogen hubs, an official release said.

"Global players are joining hands with their Indian counterparts in shipbuilding, port modernisation, smart logistics, and green shipping. Technology is at the heart of this progress as AI-driven logistics, digital port operations, and automation are making our ports more efficient and globally competitive,” said Shantanu Thakur, Minister of State for Ports and Shipping.

The Centre has enacted five new pieces of legislation earlier this month -- the Bills of Lading Act, Carriage of Goods by Sea Act, Merchant Shipping Act, Coastal Shipping Act and the Indian Ports Act -- which replace colonial-era laws and align India’s framework with global best practices.

--IANS

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