New Delhi: Operational efficiency at Indian ports has seen a major boost, with the average ship turnaround time dropping from four days to less than one, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said on Thursday.
Speaking at the ‘Maritime Financing Summit 2025’ in the capital, the minister said this development places India ahead of many developed countries in port efficiency. He also noted that container capacity at major ports has grown by over 70 per cent, while cargo volumes via coastal and inland waterways have seen significant increases.
“With 100 per cent FDI permitted in shipping under the automatic route, simplified customs clearance and the strategic advantage of GIFT City IFSC, India now offers one of the most attractive investment ecosystems in the maritime domain. Our goal is clear to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure,” Sonowal said.
Minister of State Shantanu Thakur highlighted the importance of strong financial foundations for India’s maritime ambitions. “We are committed to ensuring that enabling policies, business-friendly reforms and international partnerships create an environment where Indian shipping can grow and lead. Our coastline is a gateway to opportunity, and through shared vision and effort, India will emerge as a global maritime leader,” he said.
A key announcement at the event was the creation of a Maritime Development Fund (MDF), a blended finance vehicle designed to lower capital costs and draw long-term investments into shipyards, coastal infrastructure and inland waterways. The fund has been shaped through consultations with over 100 stakeholders, including global investors, shipowners, insurers and financial institutions.
Several policy measures were also outlined to boost India’s maritime competitiveness. These include classifying large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to address cost disadvantages, and enabling ship leasing through GIFT City IFSC.
The government is also advancing legislative initiatives such as the Merchant Shipping Bill and the Coastal Shipping Bill to support Indian-flagged vessels. Additionally, Parliament has passed the Bills of Lading Bill 2025 to streamline the legal framework governing shipping documents.
The ministry further emphasized coordinated capital support for both greenfield projects, aimed at developing new shipbuilding clusters, and brownfield expansions to upgrade existing shipyards.