'India's Major Ports Have Created a New Record By...': PM Modi at Maritime Leaders' Conclave in Mumbai

Mumbai: Prime Minister Narendra Modi inaugurated investment MoUs and launched key initiatives for the shipping and shipbuilding sector at the Maritime Leaders' Conclave in Mumbai on Wednesday.

He spoke about the world's increased faith in India's maritime capabilities.

Addressing the Maritime Leaders' Conclave, Prime Minister Narendra Modi said, "This event began in 2016, and it is a matter of great pride for all of us that today this summit has become a global event. The participation of more than 85 countries from around the world in this program today is in itself a very big message."

"Today, the inauguration of several projects related to the shipping sector has taken place here. MoUs worth crores of rupees related to the shipping sector have also been exchanged. This shows how much faith the world has in India's maritime capabilities. Your presence at this event is a symbol of our common commitment," he added.

He also informed that India's major ports have set a new record for handling the highest-ever cargo.

"In this era of the 21st century, India's maritime sector is moving forward with rapid speed and energy. The year 2025 has been a very important year for India's maritime sector. In the year 2024-25, India's major ports have created a new record by handling the highest-ever cargo so far. Not only this, but for the first time, an Indian port has also initiated a megawatt-scale indigenous green hydrogen facility, and Kandla Port has accomplished this achievement," he said.

Milestone at Jawaharlal Nehru Port Authority, New Shipping Laws

Speaking about a major achievement in India's maritime sector, PM Modi said, "Another major milestone has been achieved at Jawaharlal Nehru Port Authority. The Bharat Mumbai Container Terminal Phase 2 has also commenced operations at JNPT. This has doubled the terminal's handling capacity, making it India's largest container port. This has been made possible by the largest FDI in India's port infrastructure. I also express special gratitude to my colleagues in Singapore for this."

He also said that the replacement of outdated colonial-era shipping laws has helped strengthen the role of State Maritime Boards.

"Significant strides have been made to drive next-generation reforms in the maritime sector. Outdated colonial-era shipping laws, which had been in place for over a century, have been replaced with modern, forward-looking legislation tailored for the 21st century. These new laws strengthen the role of State Maritime Boards, prioritise safety and sustainability, and promote the integration of digital technologies into port management," the prime minister said.

'Capacity of India's Major Ports Has Doubled': PM Modi

PM Modi said that the design of the Coastal Shipping Act has made trade easier and strengthened supply chain security.

"The Coastal Shipping Act has been designed in such a way that it facilitates easier trade and strengthens supply chain security... Under the Maritime India Vision, over 150 initiatives have been launched, resulting in significant improvements across the maritime sector. The capacity of India's major ports has doubled, and turnaround times have been significantly reduced. Additionally, cruise tourism has gained substantial momentum. Inland waterways have experienced remarkable growth, with cargo movement increasing by more than 700%."

'India's Ports Delivering Better Than Ports in Developed World': PM Modi

The Prime Minister said that India's ports are among the most efficient in the world and are delivering better performance than ports in the developed world.

“The number of operational waterways has expanded from just three to an impressive 32. The net annual surplus of our ports has seen a ninefold increase over the past decade. We are proud that today, India's ports are counted among the most efficient in the developing world. In many parameters, they are delivering better performance than ports in the developed world... India is making remarkable strides in the shipping industry, particularly in the development of human resources. Over the past decade, the number of Indian seafarers has grown significantly, increasing from 1.25 lakh to over 3 lakh. Today, India ranks among the top three countries in the world in terms of the total number of seafarers.”

Focus on Blue Economy and Sustainable Coastal Development

PM Modi said that India will focus on green logistics, port connectivity, and coastal industrial clusters in the coming days to advance its shipbuilding industry.

“A quarter of the 21st century has passed. The next 25 years of this century are even more crucial, so our focus is on the Blue Economy and Sustainable Coastal Development. We are placing great emphasis on Green Logistics, Port Connectivity, and Coastal Industrial Clusters... Ships built in India used to be a vital part of global trade. Then, we advanced in the field of ship breaking. India is intensifying its focus on advancing the shipbuilding industry."

"In a significant move, large ships have now been designated as infrastructure assets, a policy decision that is set to unlock numerous opportunities for shipbuilders. This change paves the way for easier access to financing options, reduced interest costs, and improved credit facilities. To accelerate this reform, the government plans to invest approximately Rs. 70,000 crore. This substantial investment is expected to bolster domestic shipbuilding capacity, encourage long-term financing, and foster the development of both greenfield and brownfield shipyard projects,” he added.

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