India’s maritime transformation is not simply an infrastructure story, says Sankar
A tripartite agreement signed in Oct 2026 between the state, the Union government and Mazagon Dock Shipbuilders involves an investment of Rs.26,500 crore and employment for about 50,000 people while being a lead project in Maharashtra state’s maritime development policy that will be the most investor-friendly in India.
Investors would receive “red carpet treatment” and single-window clearance under the policy, Nitesh Narayan Rane, Minister of Fisheries and Ports Development, Government of Maharashtra, told the inaugural session of the FICCI’s Maritime India Conference & Expo 2026.
The state is competing with its coastal neighbours for a share of the country’s shipbuilding and port investment boom, according to a FICCI press release on 2 Nov following Rane address at the event.
He added that every memorandum the state signed at last year’s India Maritime Summit had since become actual investment. The state’s shipbuilding, ship repair and ship breaking policy was issued within its first 100 days.
Under it, the state will help developers secure environmental clearances and land acquisition, which Rane called the two main obstacles facing shipbuilders.
Vijay Sankar, President-Elect of FICCI and Chairman of Sanmar Group, added that India’s major ports had handled a record 915mn tonnes of cargo in 2025-26, exceeding the target with growth of 7 per cent. He said the government’s Rs.70,000 crore package for shipbuilding and the maritime sector was “a significant opportunity” for states.
“India’s maritime transformation is not simply an infrastructure story,” Sankar said. “It is a story of economic competitiveness, strategic capability and national ambition.” He set out three priorities raised by FICCI members: infrastructure that works as one integrated system, industry investment to match policy support, and capturing more value from the trade India handles, including more Indian cargo on Indian ships.
The Netherlands, a partner country for the fourth edition of the conference, used the platform to push for commercial results from its newly elevated strategic partnership with India. Thierry Van Helden, Consul and Deputy Head of Mission at the Netherlands Consulate General in Mumbai, said the real test of the India–Netherlands Green and Digital Sea Corridor would be “turning that ambition into projects that make commercial sense”.
A dedicated Dutch shipbuilding delegation would visit India in February 2027, according to the Dutch envoy.
Dhruv Kotak, Chair of the FICCI Committee on Ports & Shipping and Managing Director of JM Baxi, urged global shipbuilders, component makers and OEMs to take a closer look at India. He cited strong demand for vessels, skilled labour and supportive policy. He said JM Baxi was investing across every segment it was promoting, “putting our money where our mouth is”.
Officials from the Union and state governments reinforced the case for investment. SI Abul Kalam Azad, Nautical Adviser and Additional Director General (Nautical) at the Directorate General of Maritime Administration, said that ships could now be registered within 24 hours, a timeline guaranteed in law.
Binesh Tyagi, Chairman and Managing Director of the Shipping Corporation of India, said the government had already aggregated demand for oil and gas tankers and container vessels, giving shipyards visible orders, and urged investors to build large yards in India.
Gaurav Dayal, Chairperson of Jawaharlal Nehru Port Authority, said the port had handled more than 8mn TEUs last year and expected to exceed 9mn this year.
NBS Rajput, Principal Secretary for Commerce and Transport in the Government of Odisha, invited shipbuilders and equipment makers to the state’s proposed shipbuilding cluster in Kendrapara district and the Puri International Cruise Terminal.
FICCI released four knowledge reports at the inaugural session, prepared in collaboration with PwC, Kearney, EY and Crisil Intelligence. The reports examine the development of smart and future-ready ports, improvements in hinterland connectivity and cargo evacuation, the scaling up of India’s shipbuilding and ship repair capacity, and opportunities to establish a globally competitive domestic container manufacturing industry.
The FICCI–Crisil report, Domestic Container Manufacturing in India, finds that Indian-made containers face a manufacturing cost disadvantage of US$650–US$800 per twenty-foot equivalent unit (TEU) compared with Chinese containers, with Corten steel accounting for about half of the indicative cost gap.
The report comes days after the Union Cabinet approved the Rs.10,000-crore Container Manufacturing Promotion Scheme, which targets annual manufacturing capacity of 7.5 lakh TEUs. China accounts for more than 95 per cent of global container production, while India’s growing maritime trade and dependence on repositioned empty containers highlight the case for domestic manufacturing.
The report suggests that India could target 8–10 per cent of global container manufacturing capacity, equivalent to 480,000–600,000 TEUs annually, within five years. It recommends a coordinated national container manufacturing mission, competitive access to container-grade steel, port-linked manufacturing clusters, testing and certification infrastructure, and assured procurement commitments from shipping lines and leasing companies. Fiinews.com
