TK Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways at the Maritime India Conference and Expo 2025 that was conducted recently spoke about India's maritime vision, highlighting policy reforms, green hydrogen hubs, global connectivity, and the Sagarmala scheme. Key areas include ship recycling, innovation hubs, and cruise tourism, with investments projected at $1 trillion by 2047. Sustainability, digitalization, and R&D were underlined as transformative drivers for the sector’s growth.
The Maritime India Conference and Expo 2025 that was organized by FICCI, was hailed as a matter of honor and privilege for its participants. The successful execution of the event drew praise. Referencing to the vision of the Honorable Prime Minister, key aspects of the Maritime India Vision (MI) and Maritime Amritkal Vision were shared with the audience and stakeholders, emphasizing sustainability, connectivity as well as the sector’s horizon.
The Maritime Amritkal Vision, unveiled during the Global Maritime India summit in October, serves as the important foundation for much of the ministry’s current work. Under the leadership of the Honorable Minister, the vision's goals were being systematically addressed, with systems being established in order to ensure effective implementation.
Industry collaboration was highlighted as a key positive, with a strong representation of the maritime sector at the event. Stakeholders were encouraged to engage with the various schemes being implemented or conceptualized by the ministry that is focused on the primary verticals such as ports, shipping and waterways.
The ports sector witnessed significant growth with port capabilities doubling, increased efficiencies, and turnaround times reduced from 4 days to just 1. Public Private Partnerships (PPPs) have surged with over 100 awarded. Mega projects that include Vadhavan and Galathea Bay are actively progressing, presenting substantial opportunities for global investors in technology, automation, deep-sea mining as well as dredging. The ministry has committed to facilitating smooth investments and offering necessary policy support.
Significant importance is being given to ship building, repair as well as recycling. The introduction of the Maritime Development Fund addresses financial challenges while schemes focusing on insurance, taxation as well as infrastructure and demand aim to bolster the shipbuilding industry. Once dormant, the waterways sector has now expanded from five operational waterways to 111, and coastal cargo volumes as well as inland waterways traffic have grown exponentially, showing a 3 – 4 fold increase in recent years.
The ministry remains committed to closely monitoring these verticals, with support from the industry bodies. Platforms such as the Indian Maritime Center (IMC), launched by the Prime Minister of the country serves as vital forums for collaboration. The Indian Maritime Center (IMC), - a federation of federations invites all maritime stakeholders to join as well as participate actively.
Several horizontal themes intersect all the verticals which include digital innovation, sustainability, research and development (R&D) and cruise tourism. Mumbai is emerging as a leader in the cruise tourism segment with an aim to attract one million tourists within the next 5 to 10 years, with aspirations for even larger numbers by 2047. This focus presents significant employment as well as investment opportunities that the industry is encouraged to seize.
On the policy front, reforms over the past decade have created a more open, transparent as well as business friendly environment. Some of the key legislative developments include the Major Ports Authorities Act, the Inland Vessels Act, the Merchant Shipping Bill (currently in Parliament), and the Coastal Shipping Bill. These initiatives aim to enhance stakeholder participation in the sector’s growth.
The Sagarmala Scheme, a cornerstone initiative, was highlighted as a significant driver of progress. Sagarmala 2.0 focuses on accelerating the implementation of previously outlined vision items, aligning with the sector’s strategic goals.
Efforts to boost global connectivity were also emphasized, including initiatives such as Indian Ports Global Limited (IPGL), which manages operations at Chabahar Port in Iran. Memoranda with organizations like IPGL, IPRCL, and SDCL are in development to extend Indian expertise in port management to Bangladesh, Myanmar, Sri Lanka, the Middle East, and Africa.
The Maritime sector in India is witnessing significant developments, particularly in the areas of ship recycling, research, innovation, and green hydrogen initiatives. The Hong Kong Convention is set to come into force in June, with most ship recycling yards in Alang being compliant. This compliance positions India to attract more business in ship recycling, alongside shipbuilding and ship repair, all of which are key areas for investment and reform.
In the domain of research and innovation, the government has already established an Innovation Hub at IIT Madras and IIM Kozhikode, with plans to expand to other institutions such as IIT Kharagpur, IMU, and IIT Bombay. These hubs aim to support maritime startups by providing necessary infrastructure, funding, marketing assistance, and integration into the port sector. The vision is to foster a robust ecosystem for maritime innovation across the country.
Regarding green hydrogen, India is making strides with proposed hydrogen hubs in Kandla, Tuticorin, and Paradeep. These hubs have attracted considerable interest, with several companies leasing over 4,000 acres to establish operations. It is anticipated that some of these projects will commence hydrogen production within a year, with the output catering to both domestic and international demand.
Under this ambitious vision, investments in the maritime sector are projected to reach approximately $1 trillion by 2030, with around ₹5 lakh crore expected in the short term. These initiatives underscore the government's commitment to transforming India’s maritime industry into a global leader.
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