India's Maritime Sector and Recent Developments
India's maritime sector is poised for significant growth, with investments expected to reach ₹8 lakh crore by 2047. Recent developments include the operationalization of Vizhinjam Port and increased cargo handling at major ports. The sector aims to enhance domestic capacity and promote sustainable development.
India's maritime sector is undergoing rapid transformation, driven by strategic government initiatives and investments. The sector is expected to attract ₹8 lakh crore in investments and create 1.5 crore jobs by 2047. Key developments include the operationalization of Vizhinjam Port, India's first deep-water international trans-shipment hub, and significant increases in cargo handling at major ports. The government has also invested ₹70,000 crore to boost domestic capacity and build greenfield and brownfield shipyards. Additionally, India Maritime Week 2025 has secured investment pledges totaling ₹12 lakh crore, with a focus on innovation and sustainability in the maritime domain.
