Sagarmanthan 2024: India’s Maritime Vision

819 MT of cargo processed, with green and smart port initiatives at the forefront
(Ministry of Ports, Shipping and Waterways)
November 19, 2024

Introduction
India’s maritime legacy is as
vast and dynamic as its 7,500-
kilometer coastline, which
anchors 12 major ports and
over 200 minor ones.
Positioned along the world’s
busiest shipping routes, India
is not just a key trading hub
but a rising global power. In
2023, the nation contributed
16 percent of global growth,
and according to some
estimates, it is on course to
become the third-largest
economy within the next
three years. As India ascends the global stage, its maritime sector emerges as a linchpin for
commerce, connectivity, and international cooperation.

This growing influence brings with it both opportunity and responsibility. To lead in global
maritime governance, India must foster deeper engagement with policymakers, business
leaders, and thought leaders. By shaping conversations around sustainable practices and
forward-thinking strategies, India can redefine its role in the maritime domain.

Against this backdrop, the first edition of ‘Sagarmanthan: The Great Oceans Dialogue’
takes centre stage. Being held from November 18 to 19 in New Delhi, this landmark event is
South Asia’s largest maritime thought leadership forum. Organized by the Ministry of Ports,
Shipping and Waterways (MoPSW) in partnership with the Observer Research Foundation
(ORF), Sagarmanthan offers a premier platform for global leaders, policymakers, and
visionaries to share insights and shape the future of the marine sector. With critical themes
spanning the blue economy, global supply chains, maritime logistics, and sustainable growth,
the dialogue aims to chart a bold, actionable course for a vibrant and future-ready maritime
ecosystem.

Sagarmanthan: Thematic Pillars

Sagarmanthan is designed to facilitate in-depth discussions on key aspects of the blue economy
and maritime governance. Its structure revolves around four interconnected themes, each
addressing critical challenges and opportunities shaping the future of the oceans.
Four central themes are:

New Frontiers
• Focuses on connectivity, infrastructure, and development in a rapidly evolving
global landscape.

Blue Growth
• Emphasizes building partnerships to advance progress in maritime trade and
commerce.

Green and Blue

• Highlights sustainability, technology, and innovation as critical factors for a greener
maritime future

Coasts and Communities

• Explores maritime governance and its social impact, cantering on coastal
communities and sustainable development.

Overview of India's Maritime Sector

India’s maritime sector serves as the backbone of its trade and commerce, handling around
95% of the country’s trade by volume and 70% by value. With 12 major ports and over 200
notified minor and intermediate ports, the country’s port infrastructure underpins its growing
economy. As the sixteenth-largest maritime nation in the world, India occupies a key position
on global shipping lanes. Most cargo ships traveling between East Asia and destinations like
America, Europe, and Africa traverse Indian waters, highlighting the nation’s strategic
importance.

Source: https://sansad.in/getFile/loksabhaquestions/annex/182/AU831_DTHWKp.pdf?source=pqals

The sector’s contributions extend beyond trade. India boasts a fleet of 1,530 ships sailing under
its flag as of 2023, a testament to its growing presence in global shipping. Additionally, the
country is the third-largest in the world in terms of ship recycling by tonnage, underscoring its
role in sustainable maritime practices and the global supply chain. This prominence
complements the nation’s efforts to modernize and expand its port infrastructure. Between
2014-15 and 2023-24, major ports increased their annual cargo-handling capacity from 871.52
million tonnes to 1,629.86 million tonnes, reflecting an impressive growth of 87.01%. In the
financial year 2024 alone, Indian ports managed 819.22 million tonnes of cargo, a 4.45% rise
from the previous year. This growth aligns with a surge in merchandise exports, which climbed
to USD 451 billion in FY23 from USD 417 billion the year before.
 Source: https://www.ibef.org/industry/ports-india-shipping

The Indian Government has played a crucial role in fostering this growth. Policies such as
allowing 100% Foreign Direct Investment (FDI) under the automatic route for port and harbour
projects and offering a 10-year tax holiday to enterprises engaged in port development have
bolstered the sector. These measures, combined with the nation’s expanding trade networks,
position India’s maritime industry as a cornerstone of its economic ambitions.

Some of the major recent developments and initiatives:

❖ In 2023-24, major Indian ports reduced container turnaround time to 22.57 hours,
exceeding global benchmarks. Paradip Port earned ₹1,570 crore (US$ 188 million) with
a 21% rise in net surplus, while Jawaharlal Nehru Port reported a net surplus of
₹1,263.94 crore (US$ 151 million).

❖ India plans to establish a new shipping company to expand its fleet by at least 1,000
ships within a decade. This initiative aims to cut foreign freight costs by one-third by
2047 and increase trade revenue, with joint ownership involving state-run corporations
and foreign firms.

❖ Paradip Port became India's largest major port by cargo volume in FY24, handling
145.38 million tonnes. It surpassed Deendayal Port Authority due to enhanced
operational efficiency, record coastal shipping traffic, and a surge in thermal coal
shipments.

❖ India has outlined investments of US$ 82 billion in port infrastructure projects by 2035
to bolster the maritime sector.
 ❖ In June 2024, the Government approved the establishment of a major port at Vadhavan,
Maharashtra, with an estimated cost of ₹76,220 crore (US$ 9.14 billion). This project
aims to expand EXIM trade capacity and attract public-private partnerships for
infrastructure development.

❖ In July 2024, the Government updated the Shipbuilding Financial Assistance Policy
(SBFAP), providing ₹337 crore (US$ 40.40 million) in financial aid to boost India’s
shipbuilding competitiveness. Since the policy's launch, 313 vessel orders worth
₹10,500 crore (US$ 1.26 billion) have been secured.

❖ The ‘Panch Karma Sankalp,’ announced in May 2024, includes five major
announcements focusing on green shipping and digitization: MoPSW will provide 30%
financial support for promoting Green Shipping; under the Green Tug Transition
Programme, Jawaharlal Nehru Port, VO Chidambaranar Port, Paradip Port, and
Deendayal Port will procure two green tugs each; Deendayal Port and VO
Chidambaranar Port, Tuticorin will be developed as Green Hydrogen Hubs; a Single
Window Portal will be established to facilitate and monitor river and sea cruises; and
Jawaharlal Nehru Port and VO Chidambaranar Port, Tuticorin will be transformed into
smart ports by next year.

Government Schemes in the Maritime Sector

The Indian maritime sector plays a critical role in supporting the country’s trade and economic
growth. Several government schemes have been launched to modernize infrastructure, enhance
port connectivity, and promote sustainability in the sector. These initiatives aim to strengthen
India’s position as a global maritime hub and improve its efficiency across various maritime
segments. Here are some of the major schemes in the maritime sector:

Sagarmala Programme

The Sagarmala Programme is a flagship initiative by the Ministry of Ports, Shipping, and
Waterways aimed at driving port-led development across India. With a focus on leveraging
India’s 7,500 km coastline and 14,500 km of navigable waterways, the scheme supports various
port infrastructure projects, coastal development, and connectivity enhancements. Financial
assistance is provided to State/UT Governments for projects like coastal berths, road and rail
connectivity, fish harbours, skill development, cruise terminals, and Ro-Pax ferry services. As
of July 26, 2024, 130 projects with a total allocation of ₹3,714 crore have been sanctioned.

Maritime India Vision (MIV) 2030

To position India as a global maritime leader, the Ministry of Ports, Shipping, and Waterways
has launched Maritime India Vision 2030 (MIV 2030). This comprehensive blueprint aims to
accelerate and harmonize the growth of India’s maritime sector over the next decade.
Developed in consultation with over 350 public and private stakeholders, MIV 2030
encompasses more than 150 initiatives across ten key themes, addressing all areas of the
maritime sector, from ports and shipyards to inland waterways and trade bodies.

Inland Waterways Development

The Inland Waterways Authority of India (IWAI) has identified 26 new national waterways,
following feasibility studies to make them navigable. These new routes will provide an
alternative mode of transportation, easing the load on congested road and rail networks and
promoting sustainable, cost-effective transport options for various regions.

Green Tug Transition Program (GTTP)

The Green Tug Transition Program (GTTP) aims to phase out conventional, fuel-based harbour
tugs at Indian major ports. These will be replaced with environmentally friendly tugs powered
by cleaner, sustainable fuels. The transition is set to be completed by 2040, ensuring a fully
eco-friendly fleet across the country’s major ports.

Conclusion
In conclusion, India's maritime sector is poised for significant growth, underscored by its
strategic initiatives and government schemes. The first edition of Sagarmanthan: The Great
Oceans Dialogue has further cemented India's commitment to becoming a global maritime
leader, bringing together stakeholders to discuss key themes such as sustainability,
connectivity, and governance. With programs like the Sagarmala Programme, Maritime India
Vision 2030, and the Green Tug Transition Program, the nation is taking decisive steps to
modernize its infrastructure, promote green shipping, and enhance port connectivity. These
efforts, coupled with the insights shared at Sagarmanthan, will propel India’s maritime sector
toward a sustainable, innovative, and future-ready ecosystem, ensuring its place as a central
player in the global maritime landscape.

References:
❖ https://www.orfonline.org/forums/sagarmanthan-the-great-oceans-dialogue/speaker-2024
❖ https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2074037
❖ https://www.investindia.gov.in/sector/ports-shipping
❖ https://sansad.in/getFile/loksabhaquestions/annex/182/AU831_DTHWKp.pdf?source=pqals
❖ https://www.mospi.gov.in/sites/default/files/Statistical_year_book_india_chapters/Shipping.p
df
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 ❖ https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2050143
❖ https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/aug/doc202488369301.
pdf
❖ https://sagarmala.gov.in/sites/default/files/MIV%202030%20Report.pdf
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❖ https://sansad.in/getFile/loksabhaquestions/annex/182/AU779_o0dKDC.pdf?source=pqals

Santosh Kumar/ Ritu Kataria/ Saurabh Kalia