The inaugural Sagarmanthan: The Great Oceans Dialogue was held from November 18-19, 2024, in New Delhi.
- Organized by the Ministry of Ports, Shipping, and Waterways (MoPSW) in partnership with the Observer Research Foundation (ORF), the event focused on maritime governance, the blue economy, and sustainability.
Key Developments in India’s Maritime Sector
- Strategic Importance:
- India’s 7,500 km coastline and 200+ ports handle 95% of trade by volume and 70% by value.
- Positioned on global shipping routes, India serves as a pivotal maritime hub.
- Growth in Cargo Handling:
- From 2014-15 to 2023-24, major ports increased annual cargo-handling capacity by 87% to 1,629.86 million tonnes.
- In FY 2024, 22 million tonnes of cargo were processed, a 4.45% increase over the previous year.
- Policy and Investment:
- Policies promoting 100% FDI and 10-year tax holidays for port developers boosted the sector.
- Planned investment of $82 billion in port infrastructure by 2035, including the Vadhavan Port Project (Maharashtra) with an estimated cost of ₹76,220 crore.
- Green Initiatives:
- The Green Tug Transition Program aims to phase out conventional tugs by 2040, replacing them with eco-friendly alternatives.
- Ports like Deendayal and VO Chidambaranar are being developed as Green Hydrogen Hubs.
- Shipbuilding and Fleet Expansion:
- Revised Shipbuilding Financial Assistance Policy (SBFAP) offers ₹337 crore in aid to strengthen domestic shipbuilding.
- Plans to establish a new shipping company to expand the fleet by 1,000 ships by 2047.
- Maritime Governance and Modernization:
- Introduction of smart ports and single-window portals for seamless logistics and cruise monitoring.
- Paradip Port became India’s largest by handling 38 million tonnes in FY24.
Major Schemes and Programs
- Sagarmala Programme:
- Focused on port-led development and connectivity enhancement.
- ₹3,714 crore allocated for 130 projects, including coastal berths, road-rail links, and cruise terminals.
- Maritime India Vision (MIV) 2030:
- Comprehensive plan with 150 initiatives addressing ports, shipyards, inland waterways, and trade facilitation.
- Inland Waterways Development:
- Feasibility studies completed for 26 new national waterways to reduce dependence on congested road and rail networks.
Challenges in the Maritime Sector
- Infrastructure and Connectivity Gaps:
- Port modernization and intermodal connectivity remain underdeveloped.
- Sustainability Concerns:
- Environmental impacts of port projects threaten coastal ecosystems.
- Dependence on Foreign Technology:
- Limited indigenous capabilities in shipbuilding and maritime equipment manufacturing.
- Competition from China:
- China’s dominance in shipping, port capacity, and its Belt and Road Initiative (BRI) challenges India’s position.
Way Forward
- Fast-Track Modernization:
- Accelerate projects under Sagarmala and improve domestic shipyard capabilities.
- Promote Green Shipping:
- Expand use of LNG and renewable energy in maritime operations.
- Encourage Private Investment:
- Provide tax incentives and streamline policies for private sector participation.
- Strengthen Global Partnerships:
- Enhance ties with Indian Ocean Rim Association (IORA) and other maritime security frameworks.
India’s maritime sector is poised for transformative growth with a strong focus on sustainability, modernization, and connectivity. Initiatives like Sagarmanthan and robust government policies will play a pivotal role in making India a global maritime leader by 2047.
