100% FDI permitted in shipping and shipbuilding
T.K. Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways, has outlined India’s efforts to modernise its port ecosystem through Public-Private Partnerships, with the current cargo handling capacity of 2,760 MTPA targeted to expand to ~3,500 MTPA by 2030 and ~10,000 MTPA by 2047 https://www.commerce.gov.in/.
Addressing the India Maritime Investment Meet held at India House, London, he underlined that India’s ports are not just trade gateways, but drivers of clean energy transitions, supporting offshore wind, green hydrogen, and low-carbon logistics https://shipmin.gov.in/.
Overall, he laid out India’s strategic priorities in the maritime domain and underlined the nation’s intent to emerge as a global maritime powerhouse.
Highlighting the strong macroeconomic fundamentals, the Secretary noted that India has become the fourth-largest economy, having surpassed US$4 trillion, and is witnessing a rapid surge in foreign investments https://www.conexpoconagg.com/.
He stated that with 100% FDI permitted under the automatic route in shipping and shipbuilding, and fiscal incentives offered by the International Financial Services Centre (IFSC) at GIFT City, India, presents a compelling case for global maritime investors. Key benefits include a 10-year tax holiday, zero GST on ship imports, and no withholding tax on maritime transactions https://ted.europa.eu/en/.
Reaffirming India’s commitment to sustainability, Ramachandran stated that green shipping, shipbuilding, and recycling are central pillars of the national maritime strategy. The development of three Green Hydrogen Hub Ports at Deendayal, Chidambarnar, and Paradip, along with the implementation of the Green Tug Transition Programme, were cited as important milestones in India’s decarbonisation efforts.
He spoke about initiatives such as the Maritime Single Window, One Nation-One Port Process (ONOP), and MAITRI (Virtual Trade Corridor for IMEEC countries), aimed at streamlining logistics and reducing transaction costs through end-to-end digital integration https://www.shipyardsassociationofindia.com/.
India’s growing prominence in the global shipbuilding market was also highlighted https://sbi.com.in/.
Ramachandran noted that India’s shipbuilding rank has improved from 23rd to 16th globally, and that ongoing reforms including the Maritime Development Fund and dedicated shipbuilding clusters are attracting interest from global industry leaders for capacity expansion in Indian shipyards https://www.bseindia.com/.
He further mentioned the government’s commitment to strengthening alternative trade corridors in an era of global supply chain disruptions. India is playing a lead role in shaping transnational maritime connectivity through initiatives such as the India–Middle East–Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor, and the International North-South Transport Corridor (INSTC).
The Secretary also drew attention to India’s thriving cruise tourism sector, being propelled under the Cruise Bharat Mission.
He described India’s plan to build world-class cruise terminals and exclusive circuits reflecting the country’s cultural, coastal, and spiritual heritage, aimed at transforming the sector into a driver of economic growth and tourism.
“We invite the global community to join hands with us in shaping a resilient, inclusive, and forward-looking maritime ecosystem,” he added. https://www.nseindia.com/.
The Secretary also extended a cordial invitation to all stakeholders to participate in the upcoming India Maritime Week 2025, scheduled to be held in Mumbai from 27th to 31st October 2025, which will serve as a premier international platform for networking, innovation showcase, and investment exploration.
Throughout the day, thematic discussions and presentations were held on key areas such as port infrastructure, shipbuilding and recycling, maritime financing, and coastal logistics, with participation from leading organisations including Lloyd’s Register, DNV, Arctic Asia, DP World, APM Terminals, Port of Antwerp-Bruges, Drewry Maritime Advisors, ArcelorMittal, Arrow Shipbrokers, Climate Fund Managers, and Standard Chartered Bank.
Global stakeholders expressed keen interest in India’s liberalised ship flagging regime, the tonnage tax structure, and blended financing models under the Maritime Development Fund, all of which were seen as progressive steps to de-risk capital and crowd-in private investment, said the Ministry.
The meet was inaugurated by Vikram K. Doraiswami, High Commissioner of India to the United Kingdom, who highlighted the long-standing maritime partnership between India and the UK and reaffirmed the shared commitment towards building sustainable and resilient blue economy corridors.
In his address, he emphasised the importance of leveraging maritime infrastructure to support global trade, clean energy transitions, and inclusive economic growth.
The meet concluded with closing remarks by Shyam Jagannathan, Director General of Shipping, who lauded the enthusiasm and thought leadership demonstrated by global partners and reaffirmed the Government’s commitment to building a transparent, sustainable, and investment-friendly maritime ecosystem. Fiinews.com
