India Charts Maritime Future at Financing Summit to Realize MAKV 2047 Vision

In a landmark step towards transforming India into a global maritime powerhouse, the Ministry of Ports, Shipping & Waterways (MoPSW) successfully hosted the Maritime Financing Summit 2025 in New Delhi. The summit brought together senior policymakers, global investors, maritime companies, industry experts, and financial institutions, laying the foundation for a new era of financial resilience and investment momentum in the maritime sector.

Held under the aegis of the government’s long-term Maritime Amrit Kaal Vision (MAKV) 2047, the event served as a critical forum to align India’s port infrastructure and shipbuilding capabilities with robust financial strategies that can drive sustainable growth, global competitiveness, and innovation.

A Maritime Vision Driven by Political Will and Private Collaboration

The keynote address by Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, highlighted how India is rapidly transforming into a maritime and logistics hub, with record-breaking efficiency and expanded port capacity:

“India, as a maritime nation, is undergoing a transformative shift backed by strong policy support and growing investment momentum. With ports reducing average turnaround time from 4 days to less than 1 day, we are outperforming many advanced economies. Container capacity at major ports has grown by over 70%. Coastal and inland cargo volumes have surged.”

Shri Sonowal underscored the government's commitment to creating an investment-friendly ecosystem backed by:

• 100% FDI under the automatic route

• Simplified customs and trade processes

• Strategic integration with GIFT City’s IFSC (International Financial Services Centre)

Five Key Themes Anchoring India’s Maritime Ambitions

1. Establishment of the Maritime Development Fund (MDF) A blended finance facility designed to lower capital costs and attract long-term institutional investment for shipyards, inland waterways, port modernization, and green shipping infrastructure.

2. Expansion of Financial Tools for Maritime Growth Announcements included the Shipbuilding Financial Assistance Scheme (SBFAS) extension, and recognition of large vessels as infrastructure assets, which allows better financing terms.

3. Ship Leasing and Insurance Reforms Emphasis was laid on enabling ship leasing through GIFT City IFSC, alongside regulatory reforms to attract marine insurance and financing players, bringing India at par with global maritime hubs.

4. Launch of the Financial Digital Maturity Matrix (FDMM) A strategic framework to assess and improve digital readiness in port financing and operations, making India’s ports investor-ready, transparent, and high-performing.

5. Capital Support for Greenfield and Brownfield Expansion Plans include new shipbuilding clusters, capacity enhancement of existing shipyards, and coordination with state maritime boards for region-specific development.

Broad Participation Signals Market Confidence

The summit hosted over 250 delegates, with the strongest representation from:

• Financial institutions and investment firms (NaBFID, NIIF, IIFCL, Climate Fund Managers)

• Shipyards (Cochin Shipyard, Damen, Chowgule & Co.)

• Shipping companies (SCI, CMA CGM, Maersk, San Maritime)

• Classification societies (DNV, Lloyd’s Register, IRS)

• Component and equipment manufacturers (BEML, Marine Electricals)

• Ship management firms (Union Marine)

Representatives from foreign embassies of Norway, Singapore, Germany, Netherlands, Denmark, Italy, Japan, Greece, Australia, and Cyprus reflected international interest in India’s maritime transformation.

Ministerial and State-Level Support

Special addresses were delivered by:

• Shri T.K. Ramachandran, Secretary, MoPSW

• Shri Shantanu Thakur, Minister of State for Ports, Shipping and Waterways

Shri Thakur emphasized the need for trust-based collaboration between industry and institutions, noting that policy coherence and global partnerships are vital for India’s success.

Senior dignitaries such as Shri R. Lakshmanan and Shri Venkatesapathy S., both Joint Secretaries, shared operational insights. State Maritime Board CEOs from Gujarat, Maharashtra, and Andhra Pradesh discussed localized strategies under the national vision.

Legislative and Policy Innovations

Several policy advancements were also highlighted:

• The Bills of Lading Bill, 2025, passed by Parliament, which simplifies and modernizes shipping documentation.

• Upcoming Merchant Shipping and Coastal Shipping Bills aimed at strengthening Indian-flagged vessels and inland transport.

• Promotion of green shipbuilding and recycling, aligned with global ESG norms.

The Path to Maritime Amrit Kaal Vision 2047

The MAKV 2047 is a comprehensive blueprint to elevate India as:

• A shipbuilding and ship-repair hub

• A financial center for maritime lending and insurance

• A leader in sustainable port development and blue economy initiatives

Summit participants explored thematic sessions on digital ports, ESG-aligned finance, decarbonization strategies, and skill-building for a future-ready maritime workforce.

Closing remarks by Shri Rajesh Kumar Sinha, Special Secretary, MoPSW, reiterated the government’s four-pillar strategy—financing, capacity-building, demand generation, and skills enhancement—to build a self-reliant, globally competitive, and innovation-driven maritime economy.

Turning Vision into Action

The Maritime Financing Summit 2025 represents more than just a dialogue—it is a springboard to action. With institutional financing frameworks, digital innovation, and strategic international partnerships, India is well-positioned to realize its Maritime Amrit Kaal Vision 2047—a future where the Indian maritime industry is not just world-class but world-leading.