Singapore, Apr 22 (PTI) India's ports are transforming from cargo gateways into integrated logistics and industrial hubs, supported by public–private partnerships and global best practices, Secretary in the
Ministry of Ports, Shipping and Waterways, Vijay Kumar, said on Wednesday.
Addressing around 200 investors and industry stakeholders during a round-table held at the Singapore Maritime Week (SMW) 2026 here, Kumar pointed out, "India is steadily - and decisively - moving in the direction" to be in the best position to sustain growth, attract investment, and integrate into global value chains.
He shared the growth reported by Indian ports, where capacity has been doubled, and the next frontier is to have world-class efficiency and transshipment.
Cargo handling capacity has doubled since 2013–14, from 1,400 MTPA to 2,771 million tonnes per annum (MTPA), with a target of 3,500 MTPA by 2030 and 10,000 MTPA by 2047. In FY 2025–26, India's major ports handled over 915 million tonnes - the highest ever - registering over 7 per cent growth annually.
Kumar also highlighted changes coming up in the Indian ship building sector.
A national container line is being formed, an energy fleet is being expanded through joint venture companies, and the ship-financing scheme is in place at the duty-free GIFT City.
Furthermore, he listed demand for 437 vessels, elaborating that a whole-of-government vessel acquisition plan – worth approximately Rs 2.2 lakh crore over 15 years - is to cover requirements of oil and gas public sector units and Shipping Corp of India fleet, green tugs, and dredgers.
"Tenders for 34 vessels already floated, all receiving strong participation from Indian shipyards," he said.
For ship finance and leasing, GIFT City IFSC is becoming India's maritime financial services hub. Tax holidays, customs and GST exemptions, and simplified regulations have already enabled 20 vessels to be flagged at GIFT City, including by CMA CGM and Maersk. "Our target is to have Indian-flagged ships in the global top 5 for gross tonnage by 2047."
India, he said, is undertaking its most ambitious maritime industrial transformation, from being a buyer of vessels to joining the ranks of the top five global shipbuilding nations by 2047.
He explained how the Rs 69,725-crore maritime revitalisation package is working. The Shipbuilding Financial Assistance Scheme (SBFAS), a Rs 24,736-crore corpus, is valid through March 2036.
The Maritime Development Fund is offering Rs 25,000 crore for long-term, low-cost financing, including a 3 per cent interest subvention.
Besides, the Shipbuilding Development Scheme (SbDS) has provisions for Rs 20,000 crore for greenfield clusters and brownfield expansion.
Also, the infrastructure status for large ships and shipyards unlocks long-tenure, low-cost financing.
The results are already visible. CMA CGM has ordered 6 dual-fuelled LNG container vessels at Cochin Shipyard – a landmark commercial order from a global top-3 carrier.
Norwegian owner Redreiet Stenerson has ordered 6 chemical tankers at Swan Energy's Pipavav shipyard.
"Indian yards are bidding for very large gas carriers in consortium with Samsung Heavy Industries, HD KSOE, and Hanwha Ocean - demonstrating the effectiveness of our mandatory domestic partner model," said Kumar.
The Container Manufacturing Promotion Scheme (CMPS), with Rs 10,350 crore over 13 years, is aimed at an annual domestic container output of 750,000 TEUs - up from the current 24,000 TEUs.
"This is not an aspiration. This is an order pipeline, backed by policy, capital, and government procurement," said the secretary.
He also emphasised the development of green ports, green fuels, and green vessels, saying that India's maritime growth is firmly aligned with sustainability and global climate commitments.
Under the Green Hydrogen Mission, he said, the Kandla, Paradip and Tuticorin ports are being developed as green hydrogen hubs.
Industry partners L and T, Reliance, Welspun, and AM Green have collectively taken approximately 3,400 acres at Kandla for green hydrogen and ammonia production facilities.
The round-table also saw exchanges of seven business-to-business agreements. PTI GS HVA
