(MENAFN- KNN India) New Delhi, Oct 15 (KNN) The government expects an investment of Rs 80 lakh crore in India's maritime industry over the next 25 years, aiming to make the country one of the world's top five shipbuilding nations by 2047, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal announced on Tuesday.

Speaking at a media briefing organised with the Indian Ports Association (IPA) ahead of India Maritime Week (IMW) 2025, Sonowal said that under Prime Minister Narendra Modi's leadership, multiple initiatives have been introduced to transform India's maritime landscape.

IMW 2025, a five-day event starting October 27 in Mumbai, will bring together global and domestic stakeholders to discuss future growth opportunities in the maritime sector. Prime Minister Narendra Modi is also expected to address the event.

Sonowal said that India's maritime growth is being guided by Maritime Vision 2030 and Maritime Amrit Kaal Vision 2047, which aim to make India one of the top 10 shipbuilding nations within five years and the fifth largest by 2047. The plan aligns with the government's broader goal of“Viksit Bharat@2047.”

He added that the Rs 80 lakh crore investment would span across ports, shipbuilding, repair, recycling, research, design, and institutional development, creating a robust ecosystem to attract global investors.“This will open up vast opportunities for collaboration and sustainable growth,” Sonowal said.

According to Vijay Kumar, Secretary of the Ministry, IMW 2025 will see participation from over one lakh delegates, 500 exhibitors, and representatives from more than 100 countries.

Investment agreements worth Rs 10 lakh crore are expected to be signed during the event, covering shipbuilding, port modernisation, sustainability, and industrialisation.

The Minister emphasised that India's maritime future will be built on prosperity, sustainability, and national pride, making the country a major player in the global shipping industry.

(KNN Bureau)

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