India Showcases Ambitious $20 Billion Maritime Vision At Nor-Shipping Summit

Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal, addressed global maritime leaders at the India Country Session during India@Nor-Shipping in Oslo, unveiling a bold $20 billion infrastructure investment aimed at transforming India into a top global maritime hub.

Key Maritime Investment Announcements

In his keynote address, Sonowal outlined India’s ambitious roadmap for port modernization, multimodal logistics integration, and trade facilitation. He affirmed: “India has committed USD 20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation. Through policy incentives and ease of doing business, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047.”

Strategic Corridors & Digital Transformation

India highlighted its pivotal role in global supply chains through strategic projects like:

• India-Middle East-Europe Economic Corridor (IMEEC)
• Eastern Maritime Corridor (EMC)
• International North–South Transport Corridor (INSTC)

To enhance operational transparency, India is pushing digitalization via initiatives such as:

• ONOP (One Nation – One Port Process)
• National Logistics Portal (Marine)
• MAITRI – Virtual Trade Corridor

These platforms aim to streamline cargo movement and reduce bottlenecks in EXIM trade.

Shaping India’s Green Maritime Vision

Underlining India’s leadership in maritime sustainability, Sonowal announced:

• Development of three Green Hydrogen Hub Ports at Kandla, Tuticorin, and Paradip.
• Active engagement in the IMO’s Green Voyage 2050 initiative.
• Expansion of green fuel bunkering and port-led decarbonization initiatives.

What’s Fueling Growth in Shipbuilding and Recycling?

India has presented itself as a global shipbuilding hub, supported by scalable infrastructure, international partnerships, and a Hong Kong Convention-compliant ship recycling ecosystem. A dedicated session titled “India: The Resurgent Shipbuilding Destination” emphasized the country’s competitiveness in building next-gen sustainable vessels.

How Is the Company Advancing Maritime Talent and Global Ties?

As the world’s second-largest seafarer provider to Norwegian ships, India urged expanded recruitment partnerships with Norway, reiterating its commitment to being a “reliable, responsible, and forward-looking maritime partner.”

How Is the Blue Economy Being Financed?

Innovative financing strategies were showcased, including a proposed Maritime Development Fund that leverages blended finance to unlock private sector investment. Risk-sharing and partnership models were also discussed to attract global capital.

Global Engagement

The event brought together top industry leaders and policymakers from Norway and India, including representatives from:

• Norwegian Shipowners’ Association (NSA)
• Kongsberg Maritime
• DNV
• Garden Reach Shipbuilders and Engineers
• L&T
• Swan Defence and Heavy Industries
• India’s Ministry of Ports, Shipping and Waterways

India’s presence at Nor-Shipping reaffirmed its maritime ambition and strategic readiness to lead in sustainable shipping, port connectivity, and blue economy innovation.

REF:https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2134220

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