Indian Economy News

India Set to Become Global Maritime Powerhouse; Among Top Shipping Centres by 2047

India is moving ahead with a very ambitious strategy to make itself a global maritime champion by the year 2047. At the CII EXIM Conference 2026 in Kolkata, Minister of State for Ports, Shipping and Waterways, Mr. Shantanu Thakur, reiterated that ‘practically all of India’s trade, by volume, is carried through Indian ports nearly 95% and by value around 70%’. This highlights the importance of the port sector in making trade more competitive and in economic development. During the past decade, the handling capacity of ports has been doubled, and there has been a substantial improvement in the efficiency of handling cargo. Turnaround times at major ports have also been reduced with greater use of mechanization and digitalization. The government is also working towards improving multimodal connectivity and logistics infrastructure, making sure that port infrastructure is in line with the objectives of export-driven growth.
Further in the statement, it was also mentioned that the government is working towards making the shipbuilding industry in India stronger through policy interventions and budget allocations from the Union Budget to enhance the country’s shipbuilding capacity. The aim is to make India one of the world’s top shipbuilders, providing jobs and fuelling sustained economic growth. With the target of making India a Rs. 454.8 lakh crore (US$ 5 trillion) economy and realizing the Viksit Bharat 2047 vision, making exports more competitive through world-class maritime infrastructure will be the key to this vision.

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