New Delhi: Union Minister of State for Ports, Shipping and Waterways, Shantanu Thakur, has announced that India aims to rank among the top 10 maritime nations by 2030 and further advance to the top 5 by 2047. He emphasised that shipbuilding and ship repair will play a central role in driving this transformation, boosting employment, competitiveness, and sustainability.
The minister was speaking at the inaugural session of INMEX SMM India 2025, South Asia’s premier maritime event, held at the Bombay Exhibition Centre in Mumbai on Wednesday. The three-day event, which runs until September 12, has drawn participation from over 250 brands, international pavilions, and representatives from more than 20 countries.
India’s vision for maritime growth
Thakur underscored the government’s commitment to positioning India as a new global hub for shipbuilding. “Shipbuilding and repair will serve as vital growth engines of India’s blue economy, generating employment, enhancing global competitiveness, and driving sustainability through green shipping initiatives and modernised infrastructure,” he said.
He highlighted that India’s maritime sector is not just a facilitator of trade but a strategic driver of economic progress in the coming decades.
Current status and future roadmap
Currently, the maritime sector contributes 4% to India’s GDP and accounts for only 1% of global tonnage. However, officials say the potential for expansion is enormous.
Shyam Jagannathan, Director General of Shipping, pointed out that the vision is to raise the maritime sector’s contribution to 12% of India’s GDP and elevate India’s global ranking from 16th to 5th by 2047.
He also noted the importance of Indian seafarers, who currently make up 12% of the global maritime workforce. The target is to increase this figure to 25%, further strengthening India’s global presence.
Role of private sector and policy support
Industry leaders at the event emphasised the role of private sector participation and government policy in driving growth. Yogesh Mudras, Managing Director of Informa Markets in India, said:
“India’s maritime sector is steadily emerging as a cornerstone of the nation’s growth story, with shipbuilding and repair positioned as pivotal drivers of the Blue Economy. A key enabler of this transformation is the increasing private sector participation, supported by progressive policies such as 100% FDI under the automatic route in shipping and shipbuilding.”
INMEX SMM India 2025: a global platform
The 14th edition of INMEX SMM India has brought together global stakeholders to showcase maritime innovations, sustainable shipping technologies, and opportunities for collaboration. With the theme centred on green shipping, infrastructure modernisation, and digitalisation, the event is seen as a vital platform for India to reinforce its maritime ambitions.
Conclusion
With clear goals set for 2030 and 2047, India’s maritime sector is being redefined as a pillar of the nation’s economic and strategic future. The government’s focus on shipbuilding, repair, and green initiatives, combined with global collaboration, is expected to transform India into a maritime powerhouse in the decades ahead.