India Maritime Week secure Rs 12 lakh crore investments

Mumbai: The 2025 edition of India Maritime Week in Mumbai has been a resounding success with more than Rs 12 lakh crores investment secured with more than 600 MoUs inked during the course of the event.

The five-day event, which drew to a close on Friday, saw speeches by Prime Minister Narendra Modi and Union Home Minister Amit Shah.

Modi had addressed the Maritime Leaders Conclave and the ‘Global Maritime CEO Forum.

“India Maritime Week 2025 as a landmark achievement, reflecting global confidence in India’s maritime resurgence,” said Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal.

“A surge of 41 per cent surge from GMIS 2023 underscores India’s growing leadership in sustainable port-led development and its emergence as a key driver of the global blue economy. This is a direct result of our Modi visionary leadership, which has transformed India’s maritime sector into a beacon of global confidence and opportunity,” Sonowal said.

According to the minister, during the event Modi dedicated a set of transformative maritime initiatives to the nation, marking a major milestone in India’s journey toward becoming a global maritime leader under the Maritime Amrit Kaal Vision (MAKV),2047.

“The announcements made by our Modi reflect the government’s commitment to expanding India’s maritime capacity, advancing sustainability, and driving indigenous innovation across the sector,” said Sonowal .

The Shipping Corporation of India (SCI) announced plans to expand its fleet to 216 vessels by 2047 with an investment of Rs 1 lakh crores, adding 10 million Gross Tonnage (GT) and strengthening India’s global maritime competitiveness.

In a major boost to Make in India, Oil and Gas PSUs launched 59 shipbuilding orders worth Rs 47,800 crore, enhancing indigenous shipbuilding capacity and creating new jobs across coastal regions.

To promote green port operations, the Green Tug Programme was launched to deploy 100 eco-friendly tugs by 2040, with an investment of about Rs 12,000 crore, supporting India’s transition to cleaner and energy-efficient maritime logistics. Additionally, the Dredging Corporation of India (DCI) announced plans to modernise its fleet with 11 new dredgers to improve operational efficiency and strengthen coastal infrastructure.

The Global Maritime CEO Forum brought together an impressive lineup of industry leaders representing some of the world’s foremost maritime corporations. The forum served as a dynamic platform for dialogue on sustainable maritime growth, resilient global supply chains, green shipping innovation, and collaborative strategies to advance the global blue economy.

The leaders engaged in high-level discussions on sustainable maritime growth, resilient global supply chains, and green shipping initiatives, reaffirming their support for India’s maritime vision. “All participating CEOs commended the Government of India’s transformative policy reforms and pledged to deepen collaboration through new investments, technology partnerships, and joint innovation initiatives in the Indian maritime sector. They also expressed intent to invest in the maritime sector of the country,” said Sonowal.

The MoUs cover a wide spectrum of collaborations across port development, sustainability, shipbuilding, port-led industrialisation, and trade facilitation.

Of the total investment value, approximately 30 per cent is directed toward port development and modernisation, 20 per cent toward sustainability, another 20 per cent for shipping and shipbuilding, 20 per cent for port-led industrialisation, and the remaining 10 per cent for trade and business knowledge partnerships.