Ports Minister Sonowal Expects India's Shipbuilding And Maritime Sector To Draw Rs 1.82 Lakh Crore Investment

Sarbananda Sonowal, the Union Minister of Ports, Shipping and Waterways, on Saturday said that there is an expected investment of Rs 1.82 lakh crore coming into India's shipbuilding and maritime sector.

Sonowal, in an exclusive interaction with NDTV Profit, expressed confidence that the country is set to become one of the world's leading maritime nations. The minister highlighted the strategic importance of the sector, stating that financial support will be provided to shipbuilders to build vessels of any size, positioning the industry to be ready for "all kinds of eventuality."

The minister stressed that the overarching goal is to propel India into the global top five in shipbuilding, an ambition that requires building an ecosystem from the ground up.

To achieve this, he highlighted the crucial need to strengthen MSMEs or Micro, Small, and Medium Enterprises within the supply chain. He said that Indian shipbuilders are currently in talks with other global players to facilitate investment and collaboration within the country.

Sonowal credited Prime Minister Narendra Modi's vision and work over the last 11 years as "unique" and "amazing" for the shipping sector, adding that it was previously not considered a key component of the overall infrastructure sector.

Financial support is being prioritised for shipbuilders, with plans to establish shipbuilding and repair clusters, and develop specialised shipping technology institutions within India, he added.

Crucially, the minister pointed out the enormous economic advantage of "aatmanirbharta", or self-reliance, noting that the nation can potentially save nearly Rs 4.5 lakh crore by having Indian-made ships. With the global response to India’s shipbuilding efforts already significant, the government is focused on achieving 'Aatmanirbhar' self-reliant status in the shipping sector, making it a strategic national priority.