India pledges $26 billion for maritime sector: PM Modi at India Maritime Week 2025

Prime Minister Narendra Modi began his historic address at the India Maritime Week 2025 by talking about how Vizhinjam International Seaport, India's first deepwater transhipment hub in Thiruvananthapuram, became fully operational this year and docked the world's biggest container vessel, the MSC-Irina.

Despite this monumental achievement, this was a mere starter in the main course that Modi had prepared for the third day of India's headliner maritime event.

To a sea of white uniform-clad naval cadets and maritime students, who joined major stakeholders in the country's shipping, ports, and waterways, in the audience, Modi launched a volley of initiatives worth $26 billion.

Massive maritime investment

Among the prime minister's latest announcements was the news of The Shipping Corporation of India's plan to expand its fleet to 216 vessels (including bulkers, tankers and offshore vessels) by 2047.

He also launched India's very own Bharat Container Shipping Line with 51 container vessels on a Rs 60,000 crore investment.

Mod also launched oil and gas PSU orders of 59 ships worth Rs 47,800 crore, and a Green Tug Programme, which involved the acquisition of 100 eco-friendly tugs for Rs 12,000 crore. Finally, the acquisition of 11 dredgers by the Dredging Corporation of India for Rs 3,775 crore brought the overall orders to 437 vessels on a staggering Rs 2.2 lakh crore ($26 billion) investment.

Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways, stressed the latest policy and law reforms in the maritime sector. As he outlined the impact of the conclave in Mumbai, Sonowal said that the event was a culmination of where "vision meets education, policy meets industry, innovation meets opportunity".

Maharashtra Chief Minister Devendra Fadnavis hailed India Maritime Week 2025 for transforming into a platform to bring the latest innovations and transformations in the maritime world to each and every corner of India. He congratulated the Prime Minister for "reimagining the maritime space of India", while announcing that around Rs 56,000 crore worth of MoUs were inked by the state so far at India Maritime Week 2025.

Maritime