India Targets Top 10 Position in Global Ship Manufacturing by 2030, Says Sarbananda Sonowal

India is set to become one of the top 10 shipbuilding nations globally by 2030, according to Sarbananda Sonowal, Union Ports, Shipping and Waterways Minister. Speaking at Sagarmanthan - The Great Oceans Dialogue, Sonowal highlighted India's potential in shipbuilding due to its talent and resources. He also mentioned that the global South will shape ocean trade in this century.

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India's maritime sector is crucial for its trade, handling 95% of trade by volume and 70% by value. The country has 12 major ports and more than 200 minor and intermediate ones, supporting its economic growth. As the sixteenth-largest maritime nation, India plays a vital role in global shipping routes.

Strategic Importance of Indian Waters

Indian waters are a key passage for cargo ships travelling between East Asia and regions like America, Europe, and Africa. This underscores India's strategic significance in international shipping lanes. Beyond trade, India has a fleet of 1,530 ships under its flag as of 2023.

The country ranks third globally in ship recycling by tonnage. In the financial year 2024 alone, Indian ports handled 819.22 million tonnes of cargo, marking a 4.45% increase from the previous year. This growth is consistent with rising merchandise exports.

Focus on Sustainability and Blue Economy

The minister engaged with experts on developing a circular blue economy. An official statement noted that discussions centred on sustainability at sea and addressing related challenges. India's efforts aim to enhance its maritime sector's sustainability while boosting economic growth.

Merchandise exports rose to USD 451 billion in FY23 from USD 417 billion the previous year. This increase aligns with the growth in cargo handled by Indian ports. The country's robust port infrastructure supports this upward trend in trade.

India's ambition extends beyond entering the top 10 shipbuilding countries by 2030. The goal is to reach the top five by 2047. With its strategic location and resources, India is well-positioned to achieve these targets in the coming decades.