India’s Maritime Sector: A Trillion-Dollar Investment Opportunity by 2047

January 23, 2025
Posted by: OptimizeIAS Team
Category: DPN Topics

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India’s Maritime Sector: A Trillion-Dollar Investment Opportunity by 2047

Sub : Geo

Sec: Eco Geo

Why in News

India’s maritime sector is poised for significant growth, requiring an investment of $1 trillion by 2047 and ₹5 lakh crore by 2030 to harness its full potential. This was highlighted during the FICCI Maritime Conference and Expo 2025 in Mumbai, where key announcements were made about green hydrogen hubs, ship recycling advancements, and the modernization of ports.

Key Points:

Establishment of Green Hydrogen Production Facilities: Paradip, Tuticorin, and Kandla ports will serve as green hydrogen production hubs. Green hydrogen facilities have already leased 4,000 acres of land at these ports.
Implementation of the Hong Kong Convention on Ship Recycling: India’s Alang recycling yards already meet the standards of the Hong Kong Convention on Ship Recycling. The convention, effective June 2025, positions India as a leader in the global ship recycling market.
Growth of India’s Port Capacity: India’s port capacity is set to increase sixfold, reaching 10,000 million tonnes (MT) annually by 2047. Major ports currently handle 820 million metric tonnes (MMT) of cargo annually, a 47% increase since 2014.
Efficiency Gains: Container dwell time has been reduced to three days. Vessel turnaround time improved to 0.9 days, surpassing benchmarks of advanced economies.
World Bank Recognition: Nine Indian ports, including Visakhapatnam, feature in the World Bank’s Container Port Performance Index 2023. Visakhapatnam is ranked among the top 20 globally. Vishakhapatnam Port has showcased strong performance with 27.5 moves per crane hour, a turnaround time (TRT) of 21.4 hours, and minimal berth idle time. These metrics highlight the port’s efficiency in handling container ships and significantly influence customer preference. Seven other Indian ports, which secured ranks in the top 100, are Pipavav (41), Kamarajar (47), Cochin (63), Hazira (68), Krishnapatnam (71), Chennai (80) and Jawaharlal Nehru (96).

World Bank’s Container Port Performance Index (CPPI) 2023:

The World Bank’s Container Port Performance Index (CPPI) 2023 highlights the efficiency of global container ports, with a notable presence of Indian ports in the rankings.
The CPPI is a comprehensive assessment that evaluates the performance of container ports worldwide.
Developed by the World Bank and S&P Global Market Intelligence, the index measures the total time vessels spend in port during cargo exchanges.
This metric serves as a critical reference for stakeholders in the global economy, including governments, port authorities, and maritime trade analysts.
East and Southeast Asian ports have demonstrated exceptional efficiency, securing 13 out of the top 20 positions in the rankings.
9 Major Ports of India makes it to Global Top 100 by World Bank, a First for the country

FICCI-CRISIL Knowledge Report:

Title: Forging New Horizons: The Growth of India’s Shipbuilding and Repair Industry.
Detailed analysis of the global and Indian shipbuilding markets. Insights into how India can become a leading hub for shipbuilding and repair.

Major Ports in India:

S.N	Port Name	State	Description
1	Deendayal Port (Kandla Port)	Gujarat	One of India’s busiest ports, it primarily handles crude oil and petroleum products. It is known for its efficiency in handling dry cargo like fertilizers and agricultural products.
2	Mumbai Port Trust	Maharashtra	Located on the natural deep-water harbor of Mumbai, it is one of India’s oldest ports and specializes in bulk cargo like POL (Petroleum, Oil, and Lubricants) and chemicals.
3	Jawaharlal Nehru Port Trust (JNPT)	Maharashtra	Also known as Nhava Sheva, it is India’s largest container port, handling over 50% of India’s containerized cargo. It is equipped with advanced automation systems for efficiency.
4	Port of Mormugao	Goa	Specializes in exporting iron ore to Japan, South Korea, and China. It also handles cargo like coal and general commodities.
5	New Mangalore Port	Karnataka	Handles diverse cargo such as petroleum products, iron ore, and coffee. It plays a significant role in trade for Karnataka’s industries.
6	Syama Prasad Mookerjee Port (Kolkata Port)	West Bengal	India’s only major riverine port. It has two dock systems: Kidderpore and Haldia. Known for its historical significance and handling of steel and tea exports.
7	Kochi (Cochin) Port	Kerala	A key gateway to India’s southwest coast. It is a hub for spices, marine products, and has a dedicated LNG terminal. It also serves as a cruise port.
8	Chennai Port	Tamil Nadu	The third-oldest port in India, handling bulk cargo like automobiles and petroleum products. It is crucial for Tamil Nadu’s industrial exports.
9	Kamarajar Port (Ennore Port)	Tamil Nadu	India’s first corporatized port, known for handling coal, automobiles, and general cargo. It supports the region’s thermal power plants.
10	Paradip Port	Odisha	A key port for coal and iron ore exports. It has a well-established petroleum and chemical handling capacity and contributes to Odisha’s industrial development.
11	Visakhapatnam Port	Andhra Pradesh	The largest port on India’s eastern coast, handling cargo like coal, iron ore, and fertilizers. It is also equipped with deep draft berths for large vessels.
12	Tuticorin Port (V.O. Chidambaranar Port)	Tamil Nadu	Known for its role in handling salt, petroleum products, and fertilizers. It is an important hub for Tamil Nadu’s southern industrial belt.
13	Vadhavan Port (Under construction)	Maharashtra	Located near Dahanu, Maharashtra, it is set to become India’s largest container port once completed. It will bolster India’s position in global maritime trade routes.