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India's maritime sector to see Rs 80 lakh cr investment by 2047

Under the Maritime Amrit Kaal Vision 2047, India is set to attract investments worth Rs 80 lakh crore, generate over 1.5 crore jobs, and accelerate green shipping practices, according to an official release.

The government’s flagship Sagarmala’ program has 840 projects worth Rs 5.8 lakh crore under implementation by 2035. Already, 272 projects worth Rs 1.41 lakh crore have been completed. The upcoming Rs 76,000-crore Vadhavan Port in Maharashtra — envisioned among the top 10 container ports globally — is projected to create 12 lakh jobs. Meanwhile, India’s major ports have reduced turnaround time to 0.9 days, faster than global benchmarks in the US, Germany and Singapore. Nine Indian ports are now ranked among the world’s top 100.

Kerala has emerged as a key driver of this maritime resurgence. The Vizhinjam International Seaport, operational since 2024, is India’s first fully automated transshipment hub and has already handled 10.6 lakh TEUs and nearly 500 ships. Cochin Shipyard — builder of INS Vikrant — is expanding its global footprint in shipbuilding & repair.

“Kerala anchors India’s vision of becoming maritime superpower by 2047. The Cochin Port and its Vallarpadam transshipment terminal are set for further expansion to accommodate rising cargo flows. Under Sagarmala, 54 projects worth ₹24,000 crore are being executed in Kerala, of which 20 are already complete. These include modernised fishing harbours at Kochi, Kannur, and Thrissur, providing direct benefits to thousands of fishermen. All of this and more are aimed at harnessing the state's maritime potential as well as unlock opportunities to further the larger goal of maritime excellence,” said Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways (MoPSW).