Maritime sector drives India's economic surge as 95% of trade moves through sea routes

Nearly 95 per cent of India's trade by volume and about 70 per cent by value moves through maritime routes, underlining the sector's centrality to India's economy and competitiveness. Data from a government press release highlights that the maritime sector is the backbone of India's global trade and growth story.

From crude oil and coal to electronics, textiles, and farm goods, most of India's imports and exports pass through its ports. This makes the efficiency of maritime transport vital for national competitiveness and global integration.

To strengthen this lifeline, India has implemented the Maritime India Vision 2030 (MIV 2030), a comprehensive roadmap featuring more than 150 initiatives with an investment projection of Rs 3-3.5 lakh crore. Supported by a Rs 69,725 crore package for shipbuilding, the plan aims to modernise ports, expand shipping capacity, and boost inland waterways. In FY 2024-25, major ports handled about 855 million tonnes of cargo, marking a steady rise from 819 million tonnes the previous year.

Over the past decade, India's port capacity has nearly doubled from 1,400 to 2,762 million metric tonnes per annum, while cargo handled has grown from 972 to 1,594 million tonnes. Operational performance has improved sharply, with average vessel turnaround time cut from 93 hours to 48 hours. Financial results also show the sector's net annual surplus rising from Rs 1,026 crore to Rs 9,352 crore, and operating ratios improving from 73 per cent to 43 per cent.

The shipping sector too has expanded, with the number of Indian-flagged vessels increasing from 1,205 to 1,549 and gross tonnage from 10 to 13.52 million tonnes. Coastal shipping has nearly doubled to 165 million tonnes, offering an efficient and eco-friendly mode of transport. India's seafarer workforce has more than doubled to over three lakh, now forming 12 per cent of the global seafaring community.

Inland water transport has emerged as a key growth area. The Inland Waterways Authority of India (IWAI) recorded a cargo movement of 146 million tonnes in 2025, a jump of more than 700 per cent since 2014. The number of operational waterways increased from three to twenty-nine. New terminals and multimodal hubs, including the Haldia facility in West Bengal, are advancing logistics under the Public Private Partnership model.

The Sagarmala Programme, central to MIV 2030, targets 840 projects worth Rs 5.8 lakh crore by 2035 to cut logistics costs and generate jobs. The government has also outlined a long-term Maritime Amrit Kaal Vision 2047, with nearly Rs 80 lakh crore earmarked for ports, shipbuilding, green shipping, and inland waterways.