India Commits $20 Billion For Maritime Infrastructure Development: Sarbananda Sonowal

India.com

2 days ago

New Delhi: India has committed $20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation, Union Minister Sarbananda Sonowal said on Thursday.
Delivering the keynote speech at the India Country Session in Oslo and highlighted India's growing maritime capabilities, including a favourable policy-induced investment environment, proven shipbuilding strength, circular economy efforts, and innovative financing plans to accelerate sectoral growth, he said: "Under the able and visionary leadership of Prime Minister Narendra Modi, India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat. These goals envisage India as a modern, self-reliant, inclusive, and globally engaged economy."
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," he said.
The Shipping Minister also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like the India-Middle East-Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North-South Transport Corridor (INSTC).
"India is working to become a credible and competitive alternative. 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," he said.
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," he added. 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, enabling seamless cargo movement and reducing bottlenecks," said the minister.