New Delhi: India’s maritime sector has achieved a major milestone with the average turnaround time for ships at Indian ports dropping from four days to less than one day, outperforming several advanced economies, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal announced at the Maritime Financing Summit 2025.
The minister highlighted that this improvement in efficiency reflects India’s broader maritime ambitions and reforms. He noted a 70% increase in container handling capacity at major ports, alongside a substantial rise in cargo movement through coastal and inland waterways. These advancements, combined with 100% FDI in shipping under the automatic route, simplified customs processes, and financial infrastructure like the GIFT City IFSC, have made India a highly attractive investment destination for the global maritime sector.
“Our goal is to position India as a global maritime hub—not only in trade but also in finance, shipbuilding, and green infrastructure,” said Sonowal.
Minister of State Shantanu Thakur echoed these sentiments, emphasizing that long-term financial support is critical to fulfilling India’s maritime vision. “Our coastline is a gateway to opportunity. With the right policies and international collaboration, India will emerge as a leader in global shipping,” he said.
A major policy highlight of the summit was the announcement of the Maritime Development Fund (MDF)—a dedicated blended finance vehicle designed to lower capital costs and attract long-term investment in shipyards, coastal infrastructure, and inland waterways. The MDF was formulated through extensive consultation with over 100 stakeholders, including global investors, shipowners, financial institutions, and insurance providers.
Key reforms discussed included recognizing large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to reduce cost disadvantages, and enabling ship leasing through the GIFT City International Financial Services Centre (IFSC). These measures aim to enhance India’s global competitiveness in maritime logistics and shipbuilding.
Ongoing legislative efforts such as the Merchant Shipping Bill and the Coastal Shipping Bill are also expected to support Indian-flagged vessels and strengthen the regulatory framework. The recently passed Bills of Lading Bill 2025 is set to simplify shipping documentation and promote legal clarity in maritime trade.
The Ministry further outlined a vision for greenfield and brownfield shipbuilding expansion, emphasizing capital support for new shipbuilding clusters and the modernization of existing shipyards through coordinated efforts between the central and state governments.
These combined initiatives reflect India’s strategic intent to emerge as a dominant force in global maritime trade, anchored by efficient port operations, robust financing mechanisms, and forward-looking policy reforms.
