Right time to invest in India’s maritime sector amid global tensions: PM Narendra Modi

MUMBAI: Prime Minister Narendra Modi said on Wednesday that the maritime sector is driving India's growth, asserting that over the last decade, it has transformed significantly, boosting trade and port infrastructure.

The Prime Minister added that amid global tensions, trade disruptions and shifting supply chains, India stands as a symbol of strategic autonomy, peace and inclusive growth.

"When the global seas are rough, the world looks for a steady lighthouse. India is well poised to play that role with strength and stability," he said.

He also appealed to the investors to invest in India's maritime sector, saying that this is the right and opportune time for the same.

 "This is the right time to work and expand in India's shipping sector. The inauguration of several projects related to the Shipping sector has taken place here. MoUs worth crores of rupees related to the Shipping sector have also been issued," said PM Modi while addressing the Global Maritime CEO Forum, the flagship event of India Maritime Week (IMW) 2025.

The Prime Minister added that this shows how much faith the world has in India's maritime capabilities.

 "Your presence in this event is a symbol of our common commitment," said PM Modi.

He further said that in this era of the 21st century, India's maritime sector is moving forward with great speed and energy.

 "The year 2025 has been a very important year for India's maritime sector. Today, India's ports are counted among the most efficient in the developing world. In many aspects, they are performing even better than those in the developed world. We have replaced over a century-old colonial shipping laws with modern, futuristic laws suited for the 21st century," he added.

He noted that the new laws empower State Maritime Boards, emphasize Safety and Sustainability, and expand Digitalization in Port Management.

PM Modi said that India's maritime sector is advancing with great speed and energy.

"The year 2025 has been a landmark year for Bharat's maritime sector, marked by several significant achievements," he said.

The Prime Minister added that India's first deep-water international transhipment hub, Vizhinjam Port, became operational this year.

"Adding to the nation's pride, the world's largest container vessel recently docked at the port, showcasing its global capability. During the fiscal year 2024-2025, India's major ports achieved a record-breaking cargo throughput, setting new benchmarks in efficiency,' he said.

PM Modi added that Kandla Port has made history by launching the nation's first megawatt-scale indigenous green hydrogen facility. (IANS)

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