India’s blue economy can draw ₹80 lakh crore investments: Sonowal

India’s maritime sector is poised to attract investments of around ₹80 lakh crore, generate over 1.5 crore jobs, and drive the adoption of green shipping practices in the coming years, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said.

“India’s maritime growth story is about prosperity, sustainability, and pride in our heritage. Under the Maritime Amrit Kaal Vision, the blue economy aims to secure investments of ₹80 lakh crore and create 1.5 crore jobs,” Sonowal said in an official statement, positioning India as a future global maritime superpower.

The government’s flagship Sagarmala programme is central to this shift, with 840 projects worth ₹5.8 lakh crore targeted for completion by 2035. So far, 272 projects worth ₹1.41 lakh crore have been delivered. Among upcoming projects, the ₹76,000-crore Vadhavan Port in Maharashtra is expected to rank among the world’s top 10 container ports and create 12 lakh jobs.

India’s port efficiency has also improved sharply, with average turnaround time at major ports reduced to 0.9 days — faster than benchmarks in the US, Germany, and Singapore. Currently, nine Indian ports feature among the world’s top 100.

Sonowal highlighted Kerala’s role in India’s maritime ambitions, citing the expansion plans for Cochin Port and the Vallarpadam transhipment terminal. Under Sagarmala, 54 projects worth ₹24,000 crore are being implemented in Kerala, of which 20 are complete, including modernised fishing harbours at Kochi, Kannur, and Thrissur. These, he said, have directly benefited thousands of fishermen.

With India Maritime Week 2025 scheduled in Mumbai this October, Sonowal said the government expects stronger global partnerships and fresh investments. He urged stakeholders to focus on decarbonisation, supply chain resilience, cybersecurity, and sustainable shipping as key priorities for the sector’s growth.