India's Ports Navigate Towards Global Leadership
India's port efficiency has improved, with average turnaround times reducing from four days to less than one day, as highlighted by Union Minister Sarbananda Sonowal. The country aims to become a global maritime hub with comprehensive policy support, foreign investment, and infrastructure development to enhance its maritime domain.
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- India
Union Minister Sarbananda Sonowal recently announced that the efficiency at Indian ports has dramatically improved, with average turnaround times dropping from four days to less than one day, surpassing even some advanced nations.
Speaking at the 'Maritime Financing Summit 2025', Sonowal emphasized the transformative shift within India's maritime sector, driven by robust policy support and increasing investment flows. With 100 per cent FDI permitted in shipping and strategic advantages like simplified customs clearance and GIFT City IFSC, India offers a compelling investment environment.
The minister outlined a vision for India to evolve into a global maritime hub, not only in trade but also in finance, shipbuilding, and green maritime infrastructure. Policy measures discussed included designating large vessels as infrastructure assets and extending financial assistance for shipbuilding to counter cost disadvantages.
(With inputs from agencies.)
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