Kochi, Jan 30 (IANS) India’s maritime domain will be a central pillar of the country’s economic expansion and global competitiveness under the Viksit Bharat 2047 vision, Director General of Shipping Shyam Jagannathan said on Friday, underscoring the strategic role of the Blue Economy in driving sustainable growth.
His statement came on the concluding day of COMARSEM 2026, which saw key stakeholders from across the global maritime industry, including policymakers, industry leaders, technologists, academicians and maritime professionals, providing a high-impact platform for dialogue, collaboration and knowledge exchange.
Jagannathan said over 90 per cent of India’s trade by volume is carried through sea routes, placing the maritime sector at the heart of the country’s trade, logistics and infrastructure ecosystem.
“India’s maritime sector is integral to our economic growth story. With over 1,520 merchant vessels and more than 13 million gross tonnage capacity, the country is steadily strengthening its global footprint in shipping and maritime services,” he said.
The DG, Shipping, noted that India is emerging as a global Blue Economy hub, supported by focused policy interventions across ports, shipbuilding, logistics, renewable energy, and allied maritime industries.
The government’s objective, he said, is to position India among the world’s top 10 shipbuilding and ship repair nations by scaling capacity from 30,000 gross tonnage to over 500,000 gross tonnage.
Sustainability, he said, is a key pillar of the maritime strategy.
More than 60 per cent renewable energy usage at major ports, expansion of green belts across at least one-third of port areas, and promotion of circular economy practices through ship recycling are among the priority goals. India currently accounts for 30–35 per cent of global ship recycling tonnage and meets nearly a quarter of domestic ferrous scrap demand.
The Alang–Sosiya cluster in Gujarat hosts 115 yards compliant with the Hong Kong Convention, supporting the Green Steel ecosystem and large-scale employment generation.
Referring to the Maritime Amrit Kaal Vision 2047, Jagannathan said the advanced phase targets a top-five global position in shipbuilding while retaining leadership in ship recycling.
Key initiatives include the development of carbon-neutral ports, the promotion of green and alternate fuels, green bunkering infrastructure, and incentives for low-emission vessels, including 20–30 per cent financial assistance for green shipbuilding and retrofitting.
“Green shipping is no longer just about compliance; it is about competitiveness in a low-carbon global economy,” Jagannathan said, adding that India’s transition is aligned with Maritime India Vision 2030, Maritime Amrit Kaal Vision 2047, the IMO’s Net Zero 2050 roadmap, and India’s Panchamrit commitments.
He urged professional bodies such as the Institute of Marine Engineers (India) to work closely with the administration to effectively implement the new initiatives.
–IANS
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