Global Maritime India Summit 2025 Announced: India Aims for Top 5 Shipbuilding Spot by 2047
Mumbai, February 27, 2025 – Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, announced the Global Maritime India Summit (GMIS) 2025, set to take place in Mumbai from October 27-31. The event is expected to draw representatives from 100 countries and 100,000 delegates, reinforcing India’s maritime ambitions.
Speaking at a conclave on the Budget 2025 highlights for the shipping industry, Sonowal emphasized India's goal of becoming one of the world’s top 10 shipbuilding nations by 2030 and top 5 by 2047. He highlighted the importance of modernizing port infrastructure, reducing inefficiencies, and adopting sustainable practices to strengthen India's global trade position.
Key Announcements at the Conclave:
1. One Nation, One Port Process: A new initiative to standardize operations across major ports, eliminating inefficiencies, reducing costs, and enhancing operational speed.
2. Bharat Ports Global Consortium: This newly launched initiative aims to expand India’s maritime reach by integrating India Ports Global (operations), Sagarmala Development Company (finance), and Indian Port Rail & Ropeway Corporation (infrastructure). The consortium will drive port expansion and trade connectivity.
3. MAITRI App and Virtual Trade Corridor: The launch of the Master Application for International Trade and Regulatory Interface (MAITRI) will facilitate the Virtual Trade Corridor between India and the UAE. Leveraging AI and blockchain, it aims to standardize trade documentation, optimize trade flows, and expand to BIMSTEC and ASEAN nations.
4. Port Performance Benchmarking with Sagar Ankalan: Awards were given to top-performing ports based on cargo handling, turnaround time, berth idle time, and other key performance indicators to enhance efficiency.
5. Maritime Development Fund: The Budget 2025 introduced a Rs 25,000 crore fund, with 49% government participation and the rest from ports and private sectors, to create a world-class maritime ecosystem.
Sonowal reiterated India's commitment to Atmanirbhar Bharat and Viksit Bharat, calling on industry leaders to capitalize on this transformative era in India's maritime sector. "We are shaping not just India’s maritime future but its economic destiny," he said.
With digital innovation, sustainable infrastructure, and global collaboration, India is positioning itself as a maritime powerhouse, strengthening its role in international trade and logistics.