India Maritime Investment Meet Conducted in London
The India Maritime Investment Meet, organized by the Ministry of Ports, Shipping and Waterways (MoPSW) at India House in London, aimed to enhance maritime cooperation and attract global investments into India’s maritime sector. The event brought together international maritime leaders, investors, and regulators to discuss India’s evolving maritime infrastructure and opportunities for collaboration under the Maritime India Vision 2047. Inaugurated by H.E. Vikram K. Doraiswami, the High Commissioner of India to the UK, the meet emphasized the importance of sustainable maritime practices and the potential for India to emerge as a global maritime powerhouse.
Inaugural Address Highlights Maritime Partnership
The meet commenced with an inaugural address by H.E. Vikram K. Doraiswami, who underscored the historical maritime ties between India and the UK. He reaffirmed the commitment of both nations to develop sustainable and resilient blue economy corridors. Doraiswami stressed the significance of leveraging maritime infrastructure to bolster global trade, facilitate clean energy transitions, and promote inclusive economic growth. His remarks set the tone for a comprehensive dialogue on the future of maritime cooperation between India and global stakeholders.
Keynote Address on Strategic Maritime Priorities
Shri T.K. Ramachandran, Secretary of the MoPSW, delivered the keynote address, outlining India’s strategic priorities in the maritime sector. He highlighted the country’s ambition to become a global maritime powerhouse under the leadership of Prime Minister Narendra Modi. Ramachandran noted India’s impressive economic growth, surpassing USD 4 trillion, and the surge in foreign investments, particularly in shipping and shipbuilding. He emphasized the benefits of 100% Foreign Direct Investment (FDI) under the automatic route and fiscal incentives available at the International Financial Services Centre (IFSC) in GIFT City, making India an attractive destination for global maritime investors.
Modernization and Sustainability in Maritime Infrastructure
The Secretary elaborated on India’s efforts to modernize its port ecosystem through Public-Private Partnerships. He announced ambitious targets to expand the current cargo handling capacity from 2,760 Million Tonnes Per Annum (MTPA) to approximately 3,500 MTPA by 2030 and around 10,000 MTPA by 2047. Ramachandran emphasized that India’s ports are not merely trade gateways but also pivotal in supporting clean energy transitions, including offshore wind and green hydrogen initiatives. He reiterated India’s commitment to sustainability, highlighting the development of Green Hydrogen Hub Ports and the Green Tug Transition Programme as key milestones in the nation’s decarbonization efforts.
Future Prospects and Global Engagement
The meet also showcased India’s growing prominence in the global shipbuilding market, with improvements in its global ranking from 23rd to 16th. Ramachandran discussed ongoing reforms, including the Maritime Development Fund and dedicated shipbuilding clusters, which are attracting interest from international industry leaders. He invited global stakeholders to participate in the upcoming India Maritime Week 2025 in Mumbai, a platform for networking and investment exploration. The event concluded with a networking reception, fostering meaningful interactions between Indian and international stakeholders, and furthering discussions on partnerships and opportunities in the maritime sector.
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