$20 Billion Infra Push: India Targets Port-Led Growth With Major Investment In Logistics, Trade Corridors And Shipbuilding

India has committed $20 billion (Rs 1.71 lakh crore) for infrastructure development focused on enhancing multimodal logistics, port connectivity and trade facilitation, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said on Thursday (5 June).

Sonowal, who is on a visit to Norway, delivered keynote speech at the India Country Session at the Nor-Shipping event in Oslo.  

At the session, the Union Minister highlighted India’s growing maritime capabilities including favourable policy induced investment environment, proven shipbuilding strength, circular economy efforts, and innovative financing plans to accelerate sectoral growth.

The minister also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like India-Middle East-Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North-South Transport Corridor (INSTC).

“To support these efforts, India has committed $20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation. India is working to become a credible and competitive alternative. Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047," Sonowal said.

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