Urging global partners to view India as a hub for investment and innovation, Union minister for ports, shipping and waterways on August 27 said India's maritime industry offers $1 trillion worth of investment opportunities.

Speaking at the Ambassadors' roundtable meet ahead of India Maritime Week (IMW) 2025— which is scheduled for October 27-31 in Mumbai— Sonowal said the country is working to transform its ports, shipping, and logistics ecosystem into one that is resilient, sustainable, and future-ready.

"This opens vast avenues for international collaboration. These opportunities open up a $1 trillion maritime investment roadmap, with strong potential for joint ventures in developing ports and cargo terminal operations, multi-modal terminals, maritime services, shipbuilding, ship recycling and ship repairs, green hydrogen hubs, and sustainable shipping solutions.” he said.

The Union minister highlighted opportunities in mega projects such as Vadhavan Port, Galathea Bay Transshipment Port and Tuna Tekra Terminal, alongside investments in green hydrogen hubs, LNG bunkering, shipbuilding, ship recycling, and maritime industrial parks.

The deliberations between Ambassadors focused on India’s core maritime priorities, including strengthening shipbuilding capacity and port-led development to position the country as a global hub. Delegates also highlighted the scope of the blue economy, stressing sustainable growth and livelihoods through responsible use of ocean resources.

"Discussions emphasised digitalisation in maritime logistics to improve efficiency and transparency, along with the need to accelerate the transition to green shipping through hydrogen-powered and low-emission vessels. The role of IFSC-GIFT City in driving maritime financing was underlined as a key enabler to attract global investment and foster innovation in the sector," the Ministry later said in a statement.

Envoys welcomed the government’s reforms, including five new legislations — the Bills of Lading Act, Carriage of Goods by Sea Act, Merchant Shipping Act, Coastal Shipping Act and the Indian Ports Act — which replace colonial-era laws and align India’s framework with global best practices.

India Maritime Week (IMW) is the ministry's biennial flagship event, bringing together national and international policymakers, investors, and thought leaders to discuss and shape the future of Indian ports and logistics.

Sonowal said the IMW 2025 will be a platform where ideas can translate into projects, and commitments into partnerships. "India stands ready to collaborate and lead towards a maritime future that is prosperous, sustainable and inclusive,” he added.

Source: Moneycontrol

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