India Aims to Become a Global Maritime Hub: PM Modi Calls for Investment

Strategic Insights -

Prime Minister Narendra Modi is promoting India as a prime location for investment in the maritime sector, touting the country's modern infrastructure, innovation, and strategic advantages. In a LinkedIn post, he described India as a "perfect harbour" for international partners to join the nation's expanding maritime ecosystem. The Prime Minister's message follows his participation in the Maritime Leaders Conclave in Mumbai, where he interacted with CEOs and stakeholders from the global maritime industry.

Key Takeaways:

  • Over the past decade, India's maritime sector has undergone significant transformation, with port capacity doubling from 1,400 to 2,762 MMTPA and cargo handling rising from 972 to 1,594 MMT, including 855 MMT in FY 2024-25.
  • The net surplus of major ports has increased ninefold to é 9,352 crore, while the operating ratio has improved from 73% to 43%.
  • India has emerged as a major supplier of maritime professionals, with its seafarer workforce growing from 1.25 lakh to over 3 lakh, representing 12% of the global seafaring community.
  • Indian-flagged vessels have increased from 1,205 to 1,549, with fleet gross tonnage rising to 13.52 MGT; coastal cargo volumes have nearly doubled, and inland waterway cargo has surged by 710% from 18 MMT in 2014 to 146 MMT in 2025.
  • The number of operational waterways has grown from 3 to 32, and ferry and Ro-Pax services carried over 7.5 crore passengers in 2024-25.
  • The government has approved an é 70,000 crore umbrella package for the sector and introduced initiatives such as the Shipbuilding Assistance Scheme, Maritime Development Fund, and Shipbuilding Development Scheme, expected to mobilize é 4.5 lakh crore in investment and support the production of over 2,500 vessels.

Statistics:

  • India's port capacity has doubled from 1,400 to 2,762 MMTPA.
  • Cargo handling has risen from 972 to 1,594 MMT, including 855 MMT in FY 2024-25.
  • The net surplus of major ports has increased ninefold to é 9,352 crore.
  • The seafarer workforce has grown from 1.25 lakh to over 3 lakh.
  • Indian-flagged vessels have increased from 1,205 to 1,549, with fleet gross tonnage rising to 13.52 MGT.
  • Coastal cargo volumes have nearly doubled.
  • Inland waterway cargo has surged by 710% from 18 MMT in 2014 to 146 MMT in 2025.
  • The number of operational waterways has grown from 3 to 32.
  • Ferry and Ro-Pax services carried over 7.5 crore passengers in 2024-25.

Sources:

  • Government of India (4)