New Delhi: Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, announced that India has earmarked a substantial investment of $20 billion to strengthen its infrastructure, with a sharp focus on multimodal logistics, port connectivity, and trade facilitation. The announcement was made during his keynote address at the India Country Session held in Oslo.
Highlighting India’s rapidly advancing maritime sector, Sonowal said the country is creating an investment-friendly environment backed by robust policies, strong shipbuilding capabilities, and innovative financing models. These efforts, he emphasized, are aimed at driving growth in alignment with the vision of Viksit Bharat and Atmanirbhar Bharat.
“The maritime sector is not just a growth engine but a key enabler of strategic connectivity, sustainability, and resilience,” Sonowal stated. He underlined the sweeping reforms undertaken to expand port infrastructure, streamline logistics systems, and improve the ease of doing business — all of which are already delivering tangible results through increased port efficiency, cargo throughput, and heightened investor interest.
The minister also drew attention to major international connectivity projects such as the India-Middle East-Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North-South Transport Corridor (INSTC), which are expected to bolster India's position in global trade networks.
As part of India’s ambitions to emerge as a global maritime leader, Sonowal reiterated the government’s target to position the country among the top five shipbuilding nations by 2047. “We are building this future through policy support, infrastructure development, and promoting ease of doing business,” he said.
India is also taking a forward-looking approach toward sustainable shipping. Three ports — Kandla, Tuticorin, and Paradip — are being developed as Green Hydrogen Hubs to support the production and use of alternative fuels. Additionally, India is playing a leadership role in the International Maritime Organization’s (IMO) Green Voyage 2050 initiative, helping developing nations navigate their energy transitions.
Digital transformation is another key pillar of India’s maritime strategy. Sonowal pointed to initiatives such as the One Nation-One Port Process (ONOP), the National Logistics Portal (Marine), and MAITRI – Virtual Trade Corridor, all of which aim to unify port services and streamline EXIM trade.
ALSO READ: Tesla Shares Tumble, $150 Billion Wiped Amid Trump-Musk Feud
“These digital platforms are enhancing operational transparency, cutting transaction time, and enabling real-time data exchange,” he noted. “We are also working closely with international partners to develop Virtual Trade Corridors that will connect ports digitally, facilitating seamless cargo movement and eliminating bottlenecks.”
With a holistic approach combining policy, technology, sustainability, and strategic partnerships, India is positioning itself as a major global maritime hub, Sonowal affirmed.
FIRST Business Portal addressing the potential of business capability of North East Region.
