India’s maritime reforms drive efficiency, cargo growth: Sonowal at Singapore meet

Singapore, March 25: Significant efforts have been made by India for expansion of port infrastructure and improvement of ease of doing business, said Union Minister Minister of Shipping, Ports and Waterways Sarbananda Sonowal.

The Minister added that these efforts have borne fruit in the form of increased port efficiency, stronger cargo flows, and rising investor confidence.

The Minister was speaking at the Singapore Maritime Week being held from March 24-28, where he said India is working to become a credible and competitive alternative to shipbuilding industries worldwide.

"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," he said.

Highlighting the importance of Green and Sustainable Maritime Future, he said "We are enhancing port operations with green infrastructure, encouraging low-emission shipping, and building the foundation for a greener maritime economy. Indian shipyards are already innovating in the development of low-carbon vessels."

Further, India is establishing three Green Hydrogen Hub Ports - Kandla, Tuticorin, and Paradip to support the manufacturing of green hydrogen and its derivatives and to pioneer the use of alternative fuels in the maritime domain.

"We are also committed to developing green shipping corridors, including the proposed India-Singapore Green and Digital Corridor, which aligns with our shared focus on clean energy, smart logistics, and sustainability," said Sonowal.

The minister also stressed on the need for 'Digitalization and Innovation for Future-Ready Shipping' and highlighted that the duty-free GIFT City in Gujarat is evolving into a global maritime finance and ship leasing hub, offering a favourable tax and regulatory ecosystem and seamless access to global capital markets.

"Let us remember: oceans do not divide us - they unite us. Together, we can turn today's challenges into tomorrow's opportunities and create a maritime world that serves all of humanity," the Indian minister said in a presentation on India's maritime plans.

- With inputs from news agencies