India’s maritime sector has undergone a remarkable transformation from 2014 to 2025, experiencing unprecedented growth in various areas, including port capacity, coastal shipping, and inland waterways. This evolution is aligned with the Maritime India Vision 2030, a strategic initiative that has attracted investments estimated between ₹3 to ₹3.5 lakh crore aimed at modernizing port infrastructure, expanding shipping capacity, and enhancing inland waterways.
A significant part of this development is a recent ₹69,725-crore package aimed at bolstering shipbuilding and revitalizing the maritime ecosystem. The capacity of India’s ports has nearly doubled from 1,400 million metric tonnes per annum (MMTPA) to a striking 2,762 MMTPA. As a result, the financial health of the sector has also improved dramatically, with net annual surpluses increasing from ₹1,026 crore to ₹9,352 crore, and the operating ratio improving from 73% to 43%. These changes indicate a shift towards more efficient operations and profitability.
Cargo handling volumes have surged as well, rising from 972 million metric tonnes (MMT) to 1,594 MMT. Major ports alone handled 855 million tonnes in FY 2024–25, an increase from 819 million tonnes the previous year. Vessel turnaround times have also significantly decreased from 93 hours to 48 hours, enhancing productivity and bolstering India’s global competitiveness.
In the shipping sector, the number of Indian-flagged vessels rose from 1,205 to 1,549, with gross tonnage increasing from 10 million gross tonnes (MGT) to 13.52 MGT. Coastal shipping has nearly doubled, with cargo movement rising from 87 MMT to 165 MMT, underscoring a shift toward low-cost, eco-friendly transport solutions.
Inland waterways have experienced phenomenal growth, with cargo movement soaring from 18 MMT in 2014 to 148 MMT in 2025—an impressive increase of around 710%. The operational waterways have expanded from three to 29, significantly enhancing India’s inland transportation network. A key development is the Haldia Multi-Modal Terminal in West Bengal, recently handed over to IRC Natural Resources, which has a capacity of 3.08 MMTPA and supports multimodal logistics through public-private partnerships.
Moreover, passenger ferry and Ro-Pax services have expanded, transporting over 7.5 crore passengers in 2024–25 and showcasing the rising preference for water-based travel as a safe and efficient option. India’s seafaring workforce has more than doubled, now exceeding 3 lakh, accounting for 12% of the global seafaring workforce and positioning India among the top three suppliers of trained seafarers worldwide.
To support ongoing growth, various financial initiatives, including a ₹25,000-crore Maritime Development Fund, will provide long-term financing for shipping tonnage and shipbuilding. Additional schemes are in place to address domestic cost challenges and promote greenfield projects.
The India Maritime Week 2025, taking place from October 27 to 31 in Mumbai, aims to bring together global stakeholders from shipping, ports, and logistics. The event is expected to host over 100 countries, 100,000 delegates, and 500 exhibitors, focusing on various aspects of maritime development including shipbuilding and digital corridors.
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