Indian Navy ship INS Shardul (Representative image)
Credit: PTI Photo
New Delhi: Union Minister of State, Ministry of Ports, Shipping and Waterways, Shantanu Thakur has said that India aims to become top 10 maritime nations in the world by 2030 and among the top 5 by 2047.
"The Ministry of Ports, Shipping and Waterways and the Directorate General of Shipping, is committed to positioning India as a new hub for shipbuilding. The nation has a clear goal of ranking among the top 10 maritime nations by 2030 and among the top 5 by 2047. Shipbuilding and repair will serve as vital growth engines of India’s blue economy, generating employment, enhancing global competitiveness, and driving sustainability through green shipping initiatives and modernized infrastructure,” the Minister said.
He was addressing a gathering at the inaugural function of 14th edition of INMEX SMM India 2025, South Asia’s premier maritime event at the Bombay Exhibition Centre, Mumbai on Wednesday. The event which started on Wednesday will continue till Friday ( September 12). INMEX SMM India 2025 started with 250+ brands, international pavilions, and strong participation from 20+ countries, said a statement.
Addressing the event, Director General of Shipping, Ministry of Ports, Shipping and Waterways, Shyam Jagannathan, said, "While the maritime sector currently contributes 4% to India’s GDP and just 1% of global tonnage, the vision is to raise its share to 12% of national GDP and advance from the 16th position globally to the 5th by 2047. Indian seafarers already represent 12% of the global workforce, with a goal to expand this to around 25%, making shipbuilding and repair central to this transformation."
“India’s maritime sector is steadily emerging as a cornerstone of the nation’s growth story, with shipbuilding and repair positioned as pivotal drivers of the Blue Economy. A key enabler of this transformation is the increasing private sector participation, supported by progressive policies such as 100% FDI under the automatic route in shipping and shipbuilding," Yogesh Mudras, Managing Director, Informa Markets in India, said.