IMW, is slated to commence in Mumbai from October 27 and will be addressed by Prime Minister Modi

The government is expecting an investment of Rs 80 lakh crore in the domestic maritime industry, including ports, shipbuilding and ship repair, among others, in the next 25 years as the country aspires to become one of the top five shipbuilding nations by 2047, Union Minister Sarbananda Sonowal said on Tuesday.

Addressing a media conference in collaboration with the Indian Ports Association (IPA) ahead of the fourth edition of the India Maritime Week (IMW) 2025, Sonowal said that various policy initiatives have been taken under the leadership of PM Modi to propel the maritime industry in the country.

The five-day event, IMW, is slated to commence in the financial capital from October 27 and will be addressed by Prime Minister Narendra Modi, among others.

Outlining the government's vision for the maritime sector, the Minister for Ports, Shipping and Waterways, said, "India's maritime journey is entering a new chapter under the vision of PM Modi. ... we are working to transform our ports, shipping, and logistics ecosystem into one that is resilient, sustainable, and future-ready." 

He said that under the twin vision, Maritime Vision 2030 and Maritime Amrit Kaal Vision 2047, India will be one of the top 10 shipbuilding nations in the world in the next five years, and by 2047, the fifth largest. "The maritime sector of India is also aligned with the vision of Viksit Bharat@2047, and by 2047, we aim to witness large-scale investments, world-class infrastructure, and enhanced global competitiveness across our blue economy. This opens vast avenues for international collaboration, including a 1 trillion US dollars maritime investment roadmap," he said.

"So in the next 25 years, this sector will have a good, huge investment of Rs 80-lakh crore and in all segments, whether it is port, institution,s research, design, shipbuilding, ship repair, ship recycling, and all other ecosystems," he said.