India Ready to Play the Role of a Beacon for the Global Maritime Industry and Trade – Prime Minister Narendra Modi

Launch of “Transformative Initiative for Shipping and Shipbuilding” at the Maritime Leaders’ Conclave under India Maritime Week 2025

Mumbai, Oct 2025 : Prime Minister Narendra Modi said that the sea is not just a boundary but a gateway to development, recalling how Chhatrapati Shivaji Maharaj had hoisted the flag of India’s maritime strength centuries ago. He stated that India is now ready to play the role of a beacon for the global maritime and trade sector.

The Prime Minister was speaking at the Maritime Leaders’ Conclave, held at the Bombay Exhibition Centre (NESCO), Goregaon, under the India Maritime Week 2025, where he launched the ₹2.2 lakh crore Transformative Initiative for Shipping and Shipbuilding.

Present on the occasion were Governor Acharya Devvrat, Chief Minister Devendra Fadnavis, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, Minister of State for External Affairs Kirti Vardhan Singh, Minister of State for Ports Shantanu Thakur, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, and State Ports Minister Nitesh Rane, among others.

Prime Minister Modi said that the Indian Maritime Week, which began in Mumbai in 2016, has now become a global event, which is a matter of pride. The event saw participation from major corporate leaders, startups, and investors. With the involvement of over 85 countries and MoUs worth more than ₹12 lakh crore, he said, the world’s confidence in India’s maritime potential is evident.

He noted that India’s maritime sector has made historic progress over the past decade, and 2025 marks an important milestone. India’s ports are now on par with some of the most advanced ports in developed nations, with port handling capacity doubling in recent years. The Jawaharlal Nehru Port Trust (JNPT) has now become the largest port in the country, he added.

PM Modi further emphasized that India’s focus is on developing the blue economy, and the country has emerged as a leader in shipbuilding. India has granted infrastructure status to large-scale shipbuilding, and an investment of ₹70,000 crore is being made to accelerate the sector, generating millions of jobs. He said that ₹76,000 crore is being invested to develop the Vadhavan Port, and the goal is to quadruple the capacity of India’s ports.

The Prime Minister highlighted that foreign investment in port development and shipbuilding is being encouraged, with states being supported to expand their maritime infrastructure. He called upon the states to seize this opportunity and join hands to promote peace, progress, and prosperity through maritime growth.

Major Investment Opportunities in Maharashtra’s Maritime Sector – Chief Minister Devendra Fadnavis

Chief Minister Devendra Fadnavis said that during the past three days of India Maritime Week 2025, extensive discussions have taken place, helping showcase India’s maritime technology and innovation to the world. He added that Maharashtra has signed MoUs worth ₹56,000 crore with several countries, covering shipbuilding, repair, recycling, port development, capacity expansion, and skill development for the maritime workforce.

He credited PM Modi’s vision and policies for the massive transformation in India’s maritime sector. The capacity of Jawaharlal Nehru Port has been expanded, making it the largest container-handling port in India, while Vadhavan Port is being developed as a world-class port, enhancing Maharashtra’s global identity. He said that India has become a global hub for investment in maritime and trade, and Maharashtra offers vast opportunities for international investors.

Exchange of Maritime Technology and Innovation – Union Minister Sarbananda Sonowal

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, in his address, said that India has now become a shipbuilding nation. He noted that the conference brought together global maritime industry leaders, enabling exchange of technology and innovation that would benefit India’s shipping and trade sectors.

He credited PM Modi’s foresight and leadership for propelling India’s maritime industry to new heights, stating that India now possesses the capability to lead the world in the maritime and trade domains.