India eyeing investment of Rs 1.82 lakh crore in shipbuilding sector: Minister

New Delhi, Sep 27 (IANS) Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal on Saturday said that India is eyeing an investment of around Rs 1.82 lakh crore in the shipbuilding and maritime sector, positioning the country to emerge among the world’s leading maritime nations.

The financial support will be extended to shipbuilders to construct vessels of all sizes, strengthening the country’s preparedness for future needs, the minister said.

Sonowal, in an interaction with NDTV Profit, underlined that the government’s goal is to place India among the global top five in shipbuilding by building an ecosystem from the ground up.

The minister emphasised the significance of supply chain resilience and stated that MSMEs will be essential to the expansion of the industry. According to him, Indian shipbuilders are already in talks with foreign parties to entice cooperation and investment.

Sonowal attributed the transformation of shipping into a crucial infrastructure pillar to Prime Minister Narendra Modi’s vision over the previous 11 years.

According to him, plans are in motion to establish specialised maritime technology institutions nationwide as well as shipbuilding and repair clusters.

Sonowal emphasised the advantages of independence and pointed out that the country could save almost Rs 4.5 lakh crore by building ships domestically. According to him, attaining self-reliance in shipbuilding has become a strategic national priority as interest in India’s maritime industry grows internationally.

Earlier this week, the minister flagged off India’s first fleet of electric heavy trucks with swappable batteries at the Nhava Sheva Distribution Terminal of Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.

Additionally, this increased sustainable logistics by making JNPA the largest fleet of EV trucks in any Indian port.

Further, a robust battery swapping station was put into service. According to an official statement, JNPA wants to convert 90 per cent of its internal fleet of 600 heavy trucks by December 2026.

–IANS

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