Indian Economic Summit: At the India Economic Summit 2024, Union Shipping Minister Sarbananda Sonowal announced plans for India to develop the world’s largest port, marking a historic transformation in India’s port and shipping industry under the leadership of Prime Minister Narendra Modi .

In conversation with Senior Editor Shawan Sen, Union Minsiter Sonowal highlighted the sector’s past challenges. “Water is essential to human and national development,” he stated.

 “In the past, this sector was neglected; we were ‘sea blind.’ But under PM Modi’s leadership, the waterways and ports sector is now thriving with new principles and programs”, he added. 

“A key part of this transformation is the Sagarmala Program, a flagship initiative that has driven rapid growth across the country’s coasts”, he shared. 

 “To develop our projects, we are collaborating with private players and coastal states,” Sonowal said, noting that projects from Gujarat to Bengal have succeeded due to modernization and digitization.

India’s Growth in the Shipbuilding Industry

This progress is evident in global metrics. Sonowal cited a recent World Bank performance index report, which showed India’s ranking improving significantly, with container turnaround times reduced from 44 hours to 22 hours. “Our growth is exemplary,” he added.

Addressing India’s current share of global container traffic—at just 2.4%, Sonowal emphasized efforts to increase domestic container production to meet demand. “In the coming days, our country will begin producing containers locally,” he assured, adding that in the next 25 years, India aims to rank among the world’s top 10 maritime nations.

Sonowal also shared a bold vision for India’s shipbuilding industry, targeting a spot among the top five global players in the next decade. He mentioned that India will begin constructing ports in Sri Lanka and further noted India’s big investments in its shipping industry. “By 2047, we plan an investment of 80 lakh crore in the ship industry,” he stated, affirming that “India is about to grow in all maritime sectors.”

“We are building a network to handle 300 metric tonnes of containers annually,” he said, adding that this will give the Indian economy a significant boost.

He also shared that collaborations with countries like Iran and Russia are paving the way for increased trade and connectivity.

On the volatile situation in Myanmar and Bangladesh he said, “With the Indo-Myanmar Friendship Port and plans for additional ports in Sri Lanka, India is strengthening its position in regional and global maritime networks,” he said. He affirmed that both the countries are committed to honor the ties. 

Sonowal emphasized that ports, shipping, and waterways are creating job opportunities across India. “From the grassroots level to the top, this ministry plays a key role in supporting India’s fast-growing economy,” he said.

When asked about development in the Northeast, Sonowal discussed new initiatives to support trade along the Brahmaputra River, which includes terminals for cargo and crew. “This terminal will benefit tourism and provide infrastructure opportunities. The Northeast now has the best opportunity for growth,” he asserted, crediting PM Modi’s commitment to development in the region.

“Now ocean is a blessing, investment in water will now bring monetary benefits. The number of cruises is also increasing. PM Modi has said given special attention to northeast, now the region has road connectivity, railway connections and other developments”, he said. 

He concluded by reiterating his commitment to India’s maritime progress. “We must prove to the world that India can thrive through its waterways. We must keep our waterways clean, and we are dedicated to this vision for our nation.”