This interaction with stakeholders has given the Ministry of Ports, Shipping, and Waterways valuable perspectives that will aid in crafting a more inclusive and growth-oriented budget, in line with our ambitious MIV 2030 and Amrit Kaal Vision 2047.
The government’s focus is on developing a robust maritime ecosystem that fosters economic growth and environmental sustainability. With initiatives like the Vadhavan Mega Transshipment Port and the Cruise India Mission, the Ministry of Ports, Shipping, and Waterways aims to position India as a global maritime hub.
The Ministry of Ports, Shipping, and Waterways is spearheading several strategic initiatives to strengthen India’s maritime sector, focusing on sustainable and world-class infrastructure. Key initiatives include the Sagarmala Programme, with projects worth ₹5100 Cr, and the Shipbuilding Financial Assistance Policy supporting shipyards. The Harit Nauka initiative will promote green fuel transportation in inland waterways, while the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (SOLE) will support financing to boost ship acquisition and Indian ownership.
Major projects such as Vadhavan Mega Transshipment Port and Galathea Bay Transshipment Port are set to generate significant employment and increase handling capacities. The Cruise India Mission seeks to triple cruise traffic, and Odisha Waterway Development is exploring the feasibility to transport cargo through NW5. Policy reforms in tax and GST, support for shipbuilding, and green initiatives underscore the Ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector.
