Reduction in Vessel Turnaround Time at Indian Ports Now Below 24 Hours: Government Official
India is actively pursuing a series of policy measures and initiatives to position itself as a leading global maritime hub under the Maritime Amrit Kaal Vision (MAKV) 2047. This vision aims to boost India's maritime power by strengthening shipbuilding, port infrastructure, and financial resilience.
Key initiatives include the Merchant Shipping Bill and Coastal Shipping Bill, which are being implemented to promote Indian-flagged shipping tonnage, enhance regulatory clarity, and facilitate growth in coastal and inland waterway cargo movement. The Bills of Lading Bill 2025 has also been passed to simplify shipping documentation processes.
The Maritime Development Fund (MDF) is proposed as a financial instrument to support investments in the maritime sector, including shipbuilding and port infrastructure, to attract long-term capital and improve operational efficiencies.
India's commitment to creating a favourable investment environment is evident in its policy of permitting 100% Foreign Direct Investment (FDI) in shipping under the automatic route. This is supported by simplified customs clearance and the strategic financial incentives offered by the GIFT City International Financial Services Centre (IFSC).
Operational efficiency improvements have been a focus area. Major ports have reduced ship turnaround time from an average of 4 days to less than 1 day, and increased container handling capacity by over 70% at key ports to facilitate higher throughput.
Recognising the importance of green and sustainable maritime infrastructure, India is focusing on boosting domestic shipbuilding capabilities. Capital support for greenfield capacity expansion, involving the creation of new shipbuilding clusters, and brownfield expansion to enhance existing shipyards' capacity, is envisioned.
India's ambition is not just to become a global hub for trade, but also for maritime finance, shipbuilding, and green maritime infrastructure. These comprehensive measures—through legislative reforms, dedicated financing mechanisms such as the MDF, investment facilitation, and infrastructure modernization—reflect India’s strategic aim to become a global leader in the maritime sector by 2047.
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- The Maritime Development Fund (MDF) aims to attract long-term capital for investing in India's maritime sector, such as shipbuilding and port infrastructure, showcasing the country's interest in technology and business advancements in general-news.
- Recognizing the importance of maritime finance, India aspires to lead in shipbuilding and green maritime infrastructure, indicating growth potential for investors interested in finance and investing in the sports section of news sources.
- India's policies allowing 100% Foreign Direct Investment (FDI) in shipping under the automatic route, accompanied by simplified customs clearance and financial incentives at GIFT City International Financial Services Centre (IFSC), highlight the country's favorable environment for business expansions and investments to sports investors.
