The Centre on Thursday announced that Indian ports have cut the turnaround time for ships to less than one day, while boosting container capacity by 70 per cent. This was revealed by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal during the Maritime Financing Summit 2025 on Thursday.
“India, as a maritime nation, is undergoing a transformative shift backed by strong policy support and growing investment momentum. Under the dynamic leadership of Prime Minister Narendra Modi, we are pursuing the vision of a developed India by 2047 Viksit Bharat with the maritime sector playing a pivotal role.
Pointing out that the ports are outperforming many advanced nations, the minister said the cargo volumes through coastal and inland waterways have multiplied. He also revealed that India has opened 100 per cent FDI in shipping under the automatic route and simplified customs clearance. This coupled with the strategic advantage of GIFT City IFSC makes India one of the most attractive investment ecosystems in the maritime domain, he added.
“Our goal is clear to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure,” he stated.
The Centre also announced the Maritime Development Fund (MDF), which is expected to reduce capital costs and bring in long-term investment into shipyards, coastal infrastructure and inland waterways.
Other policy measures discussed during the conclave include recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage and provide a long term visibility on the financial incentives available in the sector and enabling ship leasing through GIFT City IFSC.
During the summit, Minister of State Shri Shantanu Thakur pointed out that India’s maritime ambitions would require reliable, long-term financial foundations. “Today’s summit is not just about sharing ideas, it’s about building trust between industry and institutions. We are committed to ensuring that enabling policies, business-friendly reforms and international partnerships create an environment where Indian shipping can grow and lead. Our coastline is a gateway to opportunity, and through shared vision and effort, India will emerge as a global maritime leader,” he stated.
