News Brief
PM Modi Unveils Rs 70,000 Crore Push For Domestic Shipbuilding Capacity At India Maritime Week 2025
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Prime Minister Narendra Modi on Wednesday (29 October) outlined the blueprint for India’s maritime transformation while addressing the Maritime Leaders Conclave and chairing the Global Maritime CEO Forum at India Maritime Week 2025 in Mumbai.
Welcoming delegates from over 85 countries, he said the event’s growth from a national gathering in 2016 to a global summit reflected “the confidence the world places in India’s maritime potential.”
The conclave saw participation from major shipping CEOs, start-ups, policymakers, and representatives from small island nations.
Modi announced that multiple projects and Memorandums of Understanding worth several lakh crore rupees were finalised at the conclave, signalling growing global confidence in India’s maritime infrastructure and investment environment.
He cited the operationalisation of Vizhinjam Port, India’s first deep-water international trans-shipment hub, which recently received the world’s largest container vessel.
India’s major ports, he said, recorded their highest-ever cargo volumes in 2024–25.
The Prime Minister also noted that Kandla Port had become the first Indian port to establish a megawatt-scale indigenous green hydrogen facility, while Jawaharlal Nehru Port Trust (JNPT) had completed Phase 2 of the Bharat Mumbai Container Terminal, doubling its capacity and making it India’s largest container port.
The new laws align India’s maritime framework with international conventions, improve safety and sustainability standards, enhance ease of doing business, and streamline port-related procedures through the “One Nation, One Port Process.”
On shipbuilding, the Prime Minister announced a Rs 70,000 crore investment to boost domestic capacity, support greenfield and brownfield shipyards, and generate large-scale employment.
He said that granting infrastructure asset status to large vessels would open new financing avenues and reduce borrowing costs for Indian shipbuilders.
Modi also confirmed the construction of a new mega port at Vadhavan in Maharashtra, to be developed at a cost of Rs 76,000 crore, aimed at expanding India’s port capacity fourfold and increasing its share in containerised cargo movement.
He concluded by reaffirming India’s vision of a sustainable, inclusive, and globally connected maritime future, anchored in innovation, investment, and strategic partnerships.
