India to become credible-competitive alternative, says Minister
Minister of Ports, Shipping and Waterways Sarbananda Sonowal has briefed international delegates in Oslo about India’s US$20 billion infrastructure development for enhancing multimodal logistics, port connectivity, and trade facilitation https://www.commerce.gov.in/.
Delivering a keynote speech at the India Country Session, India@Nor-Shipping on 5 June, the Minister highlighted India’s growing maritime capabilities including favourable policy induced investment environment, proven shipbuilding strength, circular economy efforts, and innovative financing plans to accelerate sectoral growth http://conexpoconagg.com.
“To support these efforts, India has committed US$20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation. India is working to become a credible and competitive alternative,” he said.
“Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047 https://nor-shipping.com/.”
Sonowal pointed out that India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat which envisage the country as a modern, self-reliant, inclusive, and globally engaged economy.
He elaborated, “In this journey, the maritime sector is central—not just as a driver of growth, but as an enabler of resilience, sustainability, and strategic connectivity. India has launched wide-ranging efforts to expand port infrastructure, integrate logistics systems, and improve ease of doing business for the private sector. These reforms are already bearing fruit in the form of increased port efficiency, stronger cargo flows, and rising investor confidence http://shipmin.gov.in.”
He also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like India – Middle East – Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North – South Transport Corridor (INSTC).
Emphasising the need for a Green and Sustainable Maritime Future, the Minister continued, “India is establishing three Green Hydrogen Hub Ports— Kandla, Tuticorin, and Paradip— to support the manufacturing of green hydrogen and its derivatives and to pioneer the use of alternative fuels in the maritime domain. We are also proud to lead under the IMO’s Green Voyage 2050 initiative, assisting developing countries in their energy transitions https://www.nseindia.com/.”
The session titled “India: The Resurgent Shipbuilding Destination” introduced delegates to India’s expanding shipbuilding ecosystem.
The session spotlighted India’s transition into a global hub for new-age, sustainable vessels, backed by modern infrastructure, scalable capacity, and international collaborations. Emphasis was laid on how India is leveraging its scale advantage and policy reforms to position itself as a shipbuilding powerhouse https://www.bseindia.com/.
Sonowal said, “India’s maritime digital ecosystem is undergoing a transformation. Initiatives such as ONOP (One Nation – One Port Process), National Logistics Portal (Marine) and MAITRI – Virtual Trade Corridor are creating a unified national platform for port services and EXIM trade. These efforts are improving operational transparency, reducing transaction time and building real-time data systems.
“We are also engaging with global partners to establish Virtual Trade Corridors that will digitally connect ports, enable seamless cargo movement and reducing bottlenecks https://www.jpx.co.jp/english/.”
In another session, “Ship Recycling – Enabler to Circular Economy and Sustainable Maritime,” India presented its mature, Hong Kong Convention (HKC) compliant ship recycling framework. The country’s environmentally regulated and high-capacity ship recycling ecosystem was showcased as a key contributor to global circular economy efforts https://sbi.com.in/.
The event also featured a strategic presentation on India’s port-led decarbonisation strategy. This included the development of green hydrogen and ammonia production hubs at Indian ports to support green fuel bunkering, shipping corridors, and overall maritime decarbonisation goals.
On India’s proven Maritime manpower, Sonowal informed delegates, “India is currently the second largest seafarer manpower provider to Norwegian owned ships. Through this platform, I would like to encourage larger partnerships for seafarer recruitment between Norwegian and Indian agencies. India stands ready—as a reliable, responsible, and forward-looking maritime partner. We are committed to shaping a maritime future that is green, secure, efficient, and inclusive http://deutsche-boerse.com.”
On the investment front, discussions focused on “Innovative Financing for Maritime Growth”, with insights into the proposed Maritime Development Fund. The blended finance model aims to use concessional capital from the government to unlock private investment. India also highlighted institutional mechanisms for risk sharing and partnership models to mobilise investments into its growing maritime sector.
The sessions were attended by global maritime leaders, policy makers, technocrats, and industry representatives, reinforcing India’s vision of a sustainable, modern, and inclusive maritime future https://www.wto.org/.
The event was attended by several eminent dignitaries including, Helene Tofte of the Norwegian Shipowners’ Association (NSA); Tone Knudsen Fiskeseth; Sveinung Oftedal, Special Director at Norway’s Ministry of Climate and Environment; Padmanabhan Rukumini Hari, Chairman & Managing Director of Garden Reach Shipbuilders and Engineers (GRSE); Rear Admiral G.K. Harish (Retd), Vice President and Head at L&T; Vivek Merchant, Director at Swan Defence and Heavy Industries; Annette Holte, President and Country manager of Kongsberg Maritime India; Venkatesapathy S., Joint Secretary at India’s Ministry of Ports, Shipping and Waterways; Ingvar M. Mathisen, Port Director of the Port of Oslo and Norwegian Ports Association; Uday Chaitanya, Country Manager at DNV; Tarun Gulati, CEO of eShipfinance.com; Pradip P., CEO of Maharashtra Maritime Board; and Rajeev Nayyer, Advisor to Swan Defence and Heavy Industries. fiinews.com
