Latest news with #AmritKaalVision2047
India Gazette
3 days ago
- Business
- India Gazette
India-Denmark exchange views on bilateral maritime collaboration under Green Strategic Partnership
Copenhagen [Denmark], June 6 (ANI): Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, met the Danish Minister of Industry, Business and Financial Affairs Morten Bodskov during his visit to Copenhagen, Denmark on June 5-6, 2025. The two ministers exchanged views on bilateral maritime collaboration under the auspices of the Green Strategic Partnership and the MoU on Maritime Affairs. According to a joint statement, the two ministers reaffirmed the Green Strategic Partnership, as mutually agreed upon by Prime Minister Narendra Modi and his Denmark counterpart Mette Frederiksen. The Ministers highlighted the importance of the bilateral Memorandum of Understanding on maritime affairs signed in 2024, which encompasses the establishment of Centre of Excellence in Green Shipping. The Ministers emphasised that the newly established Centre is intended to improve the quality and efficiency of maritime activities while promoting the green transition of the maritime sector in India. The ministers highlighted alignment with targets set out in the Government of India's Amrit Kaal Vision 2047, including India's ambitions to become a green shipping hub for the international maritime sector. Recalling that the establishment of green corridors has further been defined as a priority by the Government of India, the ministers agreed that the Indo-Danish CoE will conduct a pre-feasibility study to contribute to their development. The study will serve as a preliminary assessment of the main components of possible green corridors in India and outline the most promising ones. They agreed that the study will be carried out by the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping, applying its methodological blue print, and in close collaboration with the Ministry of Ports, Shipping and Waterways, other relevant Indian ministries. (ANI)
News18
30-04-2025
- Business
- News18
Maharashtra Sets Sail To Lead India's Shipbuilding, Repair & Recycling Industry With New Policy
Last Updated: India's maritime landscape currently sees shipbuilding contributions dominated by China, Japan, and South Korea—accounting for over 93 per cent of global output In a significant step towards boosting India's maritime capabilities, the Maharashtra government has unveiled a comprehensive Shipbuilding, Ship Repair, and Ship Recycling Policy 2025. Driven by the leadership of Prime Minister Narendra Modi and chief minister Devendra Fadnavis and spearheaded by minister Nitesh Rane, the policy envisions making Maharashtra a national leader in maritime manufacturing and services. With India's growing importance in global trade and a long coastline that has historically supported seafaring commerce, this strategic policy places the state at the helm of a new industrial revolution. India's maritime landscape currently sees shipbuilding contributions dominated by China, Japan, and South Korea—accounting for over 93 per cent of global output. In contrast, India's contribution remains below 1 per cent, ranking 21st globally. However, the nation already stands second in ship recycling, with a 32.6 per cent global share. Recognising this disparity and the untapped potential, the Centre's 'Maritime India Vision 2030' and the 'Amrit Kaal Vision 2047' aim to bring India into the top 10 shipbuilding nations by 2030 and into the top five by 2047. Maharashtra, with 11 per cent of India's shipbuilding capacity and 21 per cent of production, is expected to lead this charge, and the state's new policy sets out to claim at least one-third of India's shipbuilding and ship repair output by the end of this decade. While the opportunities in the shipbuilding ecosystem are vast, the challenges are equally complex. Low labour productivity, a lack of ancillary industries, limited capital, and outdated technology have all held back India's progress in this sector. Indian companies often struggle to compete with global players due to scale and technological gaps. Additionally, constraints in ship recycling—such as non-recognition of recycled steel by the Bureau of Indian Standards and high taxation—have posed further obstacles. To address these, the Union government has already set aside Rs 25,000 crore under the Maritime Development Fund and provided Rs 4,000 crore under the 2016–2026 shipbuilding support policy. Indian ships are also now given preference in tenders and charters, and tax reliefs are being offered to make domestic shipbuilding more attractive. Against this backdrop, Maharashtra's policy is both ambitious and timely. It aims to develop dedicated shipyards, ship recycling facilities, and a favourable ecosystem by leveraging the state's coastal infrastructure. The state will offer capital subsidies of up to 15 per cent of project costs and financial support for workforce training and R&D—including up to Rs 5 crore for technological innovation. The policy encourages private sector participation through transparent land allotments by the Maharashtra Maritime Board and offers land at concessional rates or long-term leases to incentivise investment. Importantly, it also emphasises upskilling youth through technical institutes and partnerships with academic institutions to create a ready pool of skilled maritime professionals. Speaking to News18, Rane said, 'This is a milestone step as Maharashtra has become the first ever state in the entire country to introduce such a policy. This will help to get more investment in the state which will help us to generate more jobs for the youth of Maharashtra." By 2030, the policy aims to attract Rs 6,600 crore in investment and generate over 40,000 jobs. This figure is projected to rise sharply by 2047, with anticipated investments of Rs 18,000 crore and over 3.3 lakh new employment opportunities in the maritime sector. The policy also focuses on strategic infrastructure such as setting up integrated maritime clusters, modern dry docks, and support facilities to enhance shipbuilding productivity. It also simplifies approvals, ensures water, electricity, and road connectivity, and supports green recycling processes aligned with international environmental standards. Ultimately, Maharashtra's maritime policy is more than an industrial blueprint—it is a bold vision to reclaim the state's historical maritime glory. By aligning with national goals and addressing key bottlenecks, the state is positioning itself as a model for shipbuilding and recycling excellence. As India steers towards becoming a $5 trillion economy, Maharashtra's role in driving this growth through maritime infrastructure and industrial expansion will be critical. With strong political backing and an eye on sustainable, skill-driven growth, the policy could transform Maharashtra into the shipbuilding capital of India. First Published: April 30, 2025, 11:15 IST
