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PM launches ‘Transformative Initiative for Shipping and Shipbuilding’ under India Maritime Week 2025 at Mumbai
Mumbai, October 29: The sea is not merely a boundary, but a vast opportunity for development — with this vision, Chhatrapati Shivaji Maharaj had unfurled the flag of India’s maritime strength centuries ago. Taking that legacy forward, India is now prepared to play the role of a lighthouse for the world in the maritime industry and trade, said Prime Minister Narendra Modi while inaugurating the ‘Transformative Initiative for Shipping and Shipbuilding’ worth ₹2.2 lakh crore at the Maritime Leaders’ Conclave held under India Maritime Week 2025 at the Bombay Exhibition Centre (NESCO), Goregaon.
The event was attended by Governor Acharya Devvrat, Chief Minister Devendra Fadnavis, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, Minister of State for External Affairs Kirti Vardhan Singh, Minister of State for Ports Shantanu Thakur, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, and State Ports Minister Nitesh Rane among others.
Prime Minister Modi recalled that India Maritime Week began in Mumbai in 2016 and has now become a global event, with the participation of industry leaders, start-ups, and investors from over 85 countries, and MoUs worth over ₹12 lakh crore signed during the week — a testament to the growing global confidence in India’s maritime potential.
Highlighting the tremendous progress in the sector, the Prime Minister said that the 21st century has marked rapid growth in India’s maritime sector, and 2025 has become a landmark year in this journey. Over the past decade, India’s maritime sector has undergone historic transformation — with Indian ports now competing with some of the world’s most advanced ports. The cargo-handling capacity of Indian ports has doubled, and JNPT has emerged as the largest port in the country, he noted.
Speaking about future goals, the Prime Minister said India is focusing on developing its Blue Economy and is rapidly advancing in shipbuilding. Large-scale shipbuilding has now been accorded infrastructure status, and ₹70,000 crore will be invested to promote this sector, creating millions of employment opportunities. He also mentioned that ₹76,000 crore is being invested in the development of the Vadhavan Port, while efforts are underway to quadruple India’s port capacity. The Centre is encouraging foreign investment and has urged state governments to actively participate in expanding the maritime sector. “With the growing global participation in this field, let us work together for peace, progress, and prosperity,” he urged.
Huge investment opportunities in Maharashtra’s maritime sector
– Chief Minister Devendra Fadnavis
Chief Minister Devendra Fadnavis said that India Maritime Week 2025 has provided a valuable platform for intense discussions and idea exchange in the maritime industry. “This event has helped showcase emerging technologies in maritime trade to the world. Maharashtra has signed MoUs worth ₹56,000 crore with various countries during the event,” he informed.
These agreements include cooperation in shipbuilding, ship repair, recycling, port development, capacity enhancement, and skill development to create a competent workforce for the maritime industry. The Chief Minister credited Prime Minister Modi’s vision and policies for the remarkable progress of India’s maritime sector, noting that the Jawaharlal Nehru Port (JNPT) has expanded its capacity to become India’s largest container-handling port, while the world-class Vadhavan Port is being developed in Maharashtra, enhancing the state’s global identity.
“Maharashtra offers tremendous opportunities for investment in the maritime industry. Global companies should invest here and become part of this growth story,” he said.
Maritime Week driving technological innovation and exchange
– Union Minister Sarbananda Sonowal Union Minister for Ports
Shipping and Waterways Sarbananda Sonowal, in his opening remarks, said that India has now become a shipbuilding nation. The Maritime Leaders’ Conclave, he said, has brought together global leaders of the maritime industry, facilitating the exchange of technology and innovative ideas that will strengthen India’s maritime trade and industry.
He credited Prime Minister Modi’s visionary leadership for elevating India’s maritime and trade sector to new heights, stating that the country now possesses the capability to lead the world in maritime innovation and development.
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