India now ranks third in building general dry cargo vessels for European short sea trade: Union Minister of Ports, Shipping & Waterways, Mr. Sarbananda Sonowal

India has secured the third position globally in building general dry cargo vessels for the European short sea trade, as per private data cited by Union Minister of Ports, Shipping & Waterways, Mr. Sarbananda Sonowal. He credited this achievement to Prime Minister Mr. Narendra Modi’s “bold Maritime Amrit Kaal Vision 2047”. He highlighted the transformation of India’s shipbuilding ambitions into globally recognised outcomes. He emphasised that through strategic reforms and skilling initiatives, the government realises the vision of "Make in India, Make for the World." This development underscores India’s growing prominence in the global maritime sector.
The Maritime India Vision (MIV) 2030 serves as a comprehensive framework for port infrastructure, logistics, shipbuilding, and waterways development through 150 targeted initiatives. These are aligned under 10 themes, including sustainability, innovation, and global collaboration. Key indicators of progress over the past three years include an increase in Major Port capacity from 1,598 Million Metric Tonnes Per Annum (MMTPA) in 2022 to 1,630 MMTPA in 2024, a reduction in Vessel Turn Around Time (TAT) from 53 to 48 hours, and a rise in Ship Berth Day Output from 16,000 Metric Tonnes (MT) to 18,900 MT. Capital expenditure by the Ministry of Ports, Shipping and Waterways rose by 37% to Rs. 7,571 crore (US$ 882.50 million) in FY24, with Gross Budget Support (GBS) increasing by 54% to Rs. 1,687 crore (US$ 196.64 million). In the same period, around 75 port development projects were awarded aimed at enhancing cargo capacity and operational efficiency.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.