In This Economy: Amid Global Turbulence, India Steers A Steady Maritime Course
The government’s renewed maritime push took centre stage at India Maritime Week 2025, signalling how the seas could anchor the next phase of India’s growth.
Dear readers,
Happy Tuesday +1!
Last week had a bit of everything-- festivities, upbeat consumer sentiment, and record-breaking sales. Thanks to the recent GST rate cuts, spending hit an all-time high across categories — from gadgets and cars to everyday essentials. The festive mood clearly spilt over into the economy.
In between all that buzz, India has been busy on the global front too, working to push bilateral trade talks with key partners, including the US, while staying firm on its broader economic course. The message from New Delhi is pretty clear: growth remains steady, confidence is high, and India’s place in the global trade map is only getting stronger.
Amid all this, the government’s renewed focus on the maritime sector stands out—a vision that was on full display as India Maritime Week 2025 unfolded in Mumbai.
It’s becoming increasingly clear that the seas, not just the factories or farms, will play a major role in powering India’s next big growth wave.
On to this week's newsletter…
India’s Blue Advantage
Geography has blessed India with a 7,500-km coastline and a 2-million-sq-km exclusive economic zone, yet for decades, the maritime economy remained under-scaled. That is changing fast.
And with the recent warlike situation around the Red Sea disrupting global shipping routes and pushing up freight costs, the urgency for India to strengthen its own maritime capabilities has never been greater. The crisis has underlined a hard truth that in an uncertain world, countries that control their sea lanes and logistics infrastructure will control the flow of global trade.
To that end, the government’s Rs 69,725-crore mega maritime and shipbuilding package couldn’t have come at a better time. It aims to build scale, modernise domestic shipyards, and expand India’s merchant fleet, positioning the country as a credible maritime power and a dependable trade partner amid global uncertainty.
Together, these measures are expected to unlock investments of Rs 4.5 lakh crore, create up to 30 lakh jobs, and significantly cut logistics costs across the economy.
From Ports To Powerhouses
The government’s maritime strategy is not just about ships and harbours; it’s about integrating India’s coastal economy into global supply chains.
Projects under Sagarmala, PM Gati Shakti, and the new maritime package aim to link ports with industrial corridors, energy terminals, and manufacturing zones.
Crucially, the government has also put the privatisation of the Shipping Corporation of India on hold, a move that signals intent to strengthen national maritime capacity rather than divest it at a critical juncture. The focus now is on modernising SCI’s fleet, improving efficiency, and aligning it with the broader shipbuilding revival plan.
Global Headwinds, Local Anchors
The timing of this push is strategic. Global trade remains vulnerable, from conflict zones in the Middle East and Ukraine to climate-driven port disruptions. Freight rates have surged, and shipping capacity is stretched thin.
By investing in domestic shipbuilding, port infrastructure, and inland waterways, India aims to de-risk its trade logistics and gain greater control over its maritime destiny. This also aligns with energy security goals, as most of India’s crude imports and exports move by sea.
Furthermore, India’s coastal states are fast becoming renewable energy hubs, leveraging offshore wind, solar, and green hydrogen potential, tying maritime growth to clean energy and sustainability goals.
Raising The Tide For All
The maritime sector is poised to become India’s next major growth driver, a source of jobs, trade competitiveness, and global influence. But execution will be key, such that shipyards must scale up fast, ports must digitise, and private capital must see predictable returns.
In all, if India raises its maritime tide now, it could lift not just ships and ports but the entire economy. Here’s to calmer seas and stronger growth ahead.
FEATURE FIVE
Government reassesses Shipping Corporation's privatisation amid global geopolitical shifts, I report exclusively for NDTV Profit.
The Federation of Indian Chambers of Commerce & Industry has submitted its Union Budget 2026-27 recommendations, urging measures to clear tax backlogs, streamline compliance, and boost policy certainty.
8th Pay Commission: 'Normally Expected From January 2026' — Govt Hints At Massive Arrears Payout, Mohammed Uzair Shaikh reports.
India-EU FTA talks enter final leg as Goyal heads to Brussels, EU team lands in Delhi, Rishabh Bhatnagar reports.
India doesn't make trade deals under pressure, says Piyush Goyal at Berlin Global Dialogue.
CAUGHT MY EYE
The layoffs in tech just keep piling up. Amazon, Microsoft and Google have all trimmed their sales teams this year, part of a broader reset sweeping through Big Tech and startups alike. Tracker data shows more than 1.28 lakh jobs gone across 218 companies in 2025, with the true number likely higher. Amazon led with 30,000 cuts, Intel followed with 27,000, and Microsoft shed over 15,000. Even firms built on growth—Salesforce, Meta, HP—are now learning to shrink.
Until next time, stay informed and stay inspired.
