India eyes US$96 billion maritime investment by 2047

India's maritime sector is projected to attract INR8 trillion (US$96 billion) in investment and generate 15 million new jobs by 2047 under the Maritime Amrit Kaal Vision, Union Minister Sarbananda Sonowal announced, reported Saint Petersburg's PortNews.

The announcement followed a review meeting in Mumbai attended by Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Ajit Pawar, and Minister of Ports Development Nitesh Narayan Rane.

Mr Sonowal said the roadmap aims to transform India's ports, shipping, and logistics into a resilient and sustainable network aligned with the national development goal of Viksit Bharat 2047.

He noted that cargo movement on inland waterways has increased eightfold since 2014, while turnaround time at major ports has dropped by 60 per cent. Sagarmala projects worth US$66 billion are currently underway.

India now supplies 12 per cent of the world's seafarers. All 12 major ports are expected to reach full carbon neutrality by 2047, with green energy transition targets set for 2035.

The Ministry of Ports, Shipping and Waterways oversees India's port infrastructure and manages national programmes such as Sagarmala and Maritime India Vision across 12 major ports.

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2025/10/27 16:06:00