India’s maritime sector entering a defining decade of growth under PM Modi’s leadership: Sonowal

New Delhi, July 3 (IANS) India’s maritime sector is entering a defining decade of growth under the leadership of Prime Minister Narendra Modi, with the proposed Maritime Investment Fund (MIF) set to play a pivotal role in mobilising long-term capital and accelerating investments across ports, shipping, shipbuilding and logistics, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said on Friday.

In a message shared during an industry consultation on the Maritime Investment Fund, Sonowal said India’s maritime sector is entering a defining decade of growth under the visionary leadership of Prime Minister Narendra Modi.

He said the country is building world-class ports, expanding shipbuilding capacity, modernising inland waterways and strengthening its logistics ecosystem, making access to long-term growth capital essential.

“The Maritime Investment Fund is envisioned as a catalytic platform to mobilise patient capital, encourage private participation and unlock new opportunities across the maritime value chain. Together, we are laying the foundation of a globally competitive maritime economy that will drive innovation, create employment and contribute significantly to the vision of Viksit Bharat by 2047,” the minister said.

The Ministry of Ports, Shipping and Waterways (MoPSW), in association with Sagarmala Finance Corporation Limited (SMFCL) and SBI Ventures Limited (SVL), organised the industry consultation, bringing together key stakeholders from the maritime and financial sectors to deliberate on the design, strategy and implementation of the proposed fund.

The meeting was chaired by Vijay Kumar, Secretary, Ministry of Ports, Shipping and Waterways, and was attended by senior representatives from shipping companies, port operators, shipyards, maritime boards, banks, non-banking financial companies (NBFCs), private equity and infrastructure funds, along with industry associations.

The consultation also featured an interactive session during which industry participants discussed financing gaps, investment priorities, governance mechanisms, fund structure, portfolio strategy, fundraising approaches and investment instruments. Stakeholders also explored opportunities in emerging areas such as green shipping, ship leasing, maritime technology, multimodal logistics and measures to deepen private sector participation across the maritime value chain.

–IANS

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