Union Minister Discusses Maritime Sector Growth in Pre-Budget Meeting

Union Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, held a pre-budget meeting with stakeholders to strengthen India's maritime sector. The Ministry is focusing on sustainable and world-class infrastructure through initiatives like the ₹5100 crore Sagarmala Programme and the Shipbuilding Financial Assistance Policy. The Harit Nauka initiative will promote green fuel transportation in inland waterways. Financial support through the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (SOLE) will boost ship acquisition and Indian ownership.

Major projects like the Vadhavan Mega Transshipment Port and Galathea Bay Transshipment Port aim to increase handling capacities and generate employment. The Cruise India Mission seeks to triple cruise traffic, and the Odisha Waterway Development is exploring cargo transport feasibility through NW5. Policy reforms in tax, GST, and green initiatives reflect the Ministry’s commitment to economic growth and environmental sustainability.

Shri Sonowal emphasized, "The government’s focus is on building a robust maritime ecosystem that supports economic growth and environmental sustainability. With projects like the Vadhavan Mega Transshipment Port and the Cruise India Mission, MoPSW is poised to make India a global maritime hub."

Discussions centered on identifying growth opportunities, addressing challenges, and exploring innovative solutions, aligning with the MIV 2030 Vision to make India a $5 trillion economy and the Amrit Kaal Vision 2047 for a developed nation with a robust economy and vibrant culture.