India is positioning itself as a global maritime hub by opening doors to international investors with 100 per cent Foreign Direct Investment (FDI) under the automatic route in shipping and shipbuilding, coupled with tax and policy incentives at the International Financial Services Centre (IFSC) in GIFT City.
Speaking at the ‘India Maritime Investment Meet’ hosted at India House in London, TK Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways, laid out the country’s strategic priorities, highlighting key benefits such as a 10-year tax holiday, zero GST on ship imports, and no withholding tax on maritime transactions.
“Under the visionary leadership of Prime Minister Narendra Modi, India is scripting a new era of maritime resurgence – anchored in sustainability, digital transformation, and global partnerships,” said Ramachandran.
Citing India’s rise as the world’s fourth-largest economy with a GDP exceeding $4 trillion, he underlined the country’s robust economic fundamentals and the surge in foreign investments. He added that India’s ports are increasingly becoming enablers of clean energy transitions, with support for offshore wind, green hydrogen, and low-carbon logistics.
The Secretary emphasised India’s commitment to modernising its port infrastructure through Public-Private Partnerships. The current cargo handling capacity of 2,760 MTPA is expected to reach 3,500 MTPA by 2030 and 10,000 MTPA by 2047.
Sustainability remains central to India’s maritime strategy, with a focus on green shipping, shipbuilding, and recycling. Ramachandran mentioned the development of Green Hydrogen Hub Ports at Deendayal, Chidambarnar, and Paradip, as well as the launch of the Green Tug Transition Programme as key milestones in India’s decarbonisation roadmap.
India is also embracing digital transformation through initiatives such as the Maritime Single Window, One Nation-One Port Process (ONOP), and MAITRI (a virtual trade corridor for IMEEC countries), aiming to reduce logistics costs and improve efficiency.
Ramachandran invited global stakeholders to participate in the upcoming ‘India Maritime Week 2025’, scheduled to take place in Mumbai from October 27 to 31. The event is expected to be a flagship platform for networking, innovation, and investment exploration in the maritime sector.
The meet was inaugurated by Vikram K. Doraiswami, High Commissioner of India to the United Kingdom, who reaffirmed the deep-rooted maritime partnership between India and the UK. He called for greater collaboration in building sustainable and resilient blue economy corridors to support global trade and clean energy transitions.
International participants at the meet expressed strong interest in India’s liberalised ship flagging policy, tonnage tax regime, and blended financing models under the Maritime Development Fund-measures seen as pivotal in attracting private capital and mitigating investment risks.