Maritime sector drives India’s economic surge as 95% of trade moves through sea routes
Most of India’s imports and exports, from crude oil and coal to electronics, textiles and agricultural products, pass through its ports. This makes the efficiency of maritime transport vital for national competitiveness and global integration.
To strengthen this lifeline, India has introduced the India Maritime Vision 2030 (MIV 2030), a comprehensive roadmap that includes over 150 initiatives with an investment projection of Rs 3-3.5 lakh crore. The plan, backed by a Rs 69.725 billion package for shipbuilding, aims to modernize ports, expand shipping capacity and increase inland waterways. In FY 2024-25, major ports handled approximately 855 million tonnes of cargo; This marks a steady increase compared to the previous year.
Over the past decade, India’s port capacity has almost doubled from 1,400 to 2,762 million tonnes annually, while cargo handled has also increased from 972 to 1,594 million tonnes. Operational performance increased sharply, with average ship turnaround time falling from 93 hours to 48 hours. The financial results also show that the sector’s net annual surplus increased from Rs 1,026 billion to Rs 9,352 billion and operating rates also increased from 73 percent to 43 percent.
The maritime sector has also expanded; The number of Indian flag ships increased from 1,205 to 1,549, and the gross tonnage increased from 10 to 13.52 million tons. Coastal shipping has almost doubled to 165 million tonnes, providing an efficient and environmentally friendly method of transportation. India’s seafarer workforce has more than doubled to over three lakh and now accounts for 12 per cent of the global maritime community.
Inland water transport has emerged as a significant growth area. The Inland Waterways Authority of India (IWAI) has recorded a cargo movement of 146 million tonnes in 2025, an increase of over 700 percent since 2014. The number of operational waterways increased from three to twenty-nine. New terminals and multi-modal hubs, including the Haldia facility in West Bengal, are improving logistics under the Public Private Partnership model. The Sagarmala Programme, which is at the center of MIV 2030, targets 840 projects worth Rs 5.8 lakh crore by 2035 to reduce logistics costs and create employment. The government has also outlined a long-term Maritime Amrit Kaal Vision 2047, in which around Rs 80 lakh crore has been allocated for ports, shipbuilding, green shipping and inland waterways.
