SDG 9: Industry, Innovation and Infrastructure | SDG 8: Decent Work and Economic Growth
Institutions: Ministry of Ports, Shipping and Waterways | Ministry of Finance
Prime Minister Modi addressed the Global Maritime CEO Forum, detailing major policy and investment commitments aligned with the Maritime Amrit Kaal Vision 2047 on October 29th, 2025. The overall strategy is centered on transforming India into a global maritime power through port-led development, legislative modernization, and massive infrastructure investment.
Key announcements and recent achievements include:
Major Investments: An investment of nearly ₹70,000 crore to accelerate the shipbuilding sector and the construction of a new mega port at Vadhavan, Maharashtra, at a cost of ₹76,000 crore.
Policy Reform: Granting large ships the status of infrastructure assets, which will unlock new financing options, reduce interest costs, and ease access to credit for the shipbuilding industry.
Operational Efficiency: Colonial shipping laws have been replaced with modern, futuristic legislation, resulting in the average vessel turnaround time dropping from 96 hours to just 48 hours.
Milestones: Recent achievements include the operationalization of Vizhinjam Port as India’s first deep-water international trans-shipment hub and the launch of a megawatt-scale green hydrogen facility at Kandla Port.
The Prime Minister emphasized that amidst global tensions, India aims to serve as a stable, reliable “lighthouse” and that these initiatives, including the India–Middle East–Europe Economic Corridor, are integral to building resilient global supply chains and positioning India as a global manufacturing hub under the “Make In India, Make For The World” vision.
This set of infrastructure investments, legislative modernization, and policy reclassification of ships is foundational to India’s goal of achieving self-reliance, enhancing global trade competitiveness, and cementing its position as a major node in resilient global supply chains.
What is Infrastructure Asset Status for Ships?→ Granting large ships the status of infrastructure assets is a policy reclassification that allows them to access the same favorable financing mechanisms available to traditional infrastructure projects like roads, ports, and railways. This status typically provides benefits such as longer tenor loans, lower interest rates, and easier access to institutional credit, dramatically improving the financial viability and expansion capacity of the domestic shipbuilding and shipping industry.
Relevant Question for Policy Stakeholders: How will the ₹70,000 crore shipbuilding investment be leveraged to ensure the domestic maritime industry rapidly adopts green hydrogen technology and sustainable shipping standards?
Follow the full news here: Maritime Leaders Conclave at India Maritime Week 2025