Prime Minister Modi, while addressing the Global Maritime Leaders Conclave and chairing the Global Maritime CEO Forum at India Maritime Week 2025 in Mumbai, welcomed all participants to the global summit.
He reflected on the event’s evolution, noting that it began in Mumbai in 2016 and has now grown into a major global forum, with participation from over 85 countries. The Prime Minister acknowledged the diverse attendance, which included CEOs of major shipping giants, startups, policymakers, and innovators, along with representatives from small island nations, stating that their collective vision has significantly enhanced the summit’s synergy and energy.
The Prime Minister highlighted India’s decisive moves toward next-generation reforms in the maritime sector. He announced that “The colonial shipping laws, over a century old, have been replaced with modern and futuristic legislation suited for the 21st century”. These new laws are designed to empower State Maritime Boards, strengthen safety and sustainability protocols, and expand digitization in port management.
To propel this reform agenda, the Prime Minister declared a massive government investment of nearly ₹70,000 crore. This investment is strategically aimed at several key areas: enhancing domestic capacity, promoting long-term financing, supporting the development of greenfield and brownfield shipyards, building advanced maritime skills, and generating millions of jobs for youth. This initiative is expected to unlock significant new investment opportunities for all stakeholders.
Emphasizing India’s commitment to strengthening global supply chain resilience, Shri Modi announced that the country is actively building world-class mega ports. As a testament to this, a new port is being constructed in Vadhavan, Maharashtra, at a cost of ₹76,000 crore. India is also working to quadruple the capacity of its major ports and increase its share in containerized cargo.
The Prime Minister affirmed that all stakeholders present are key partners in achieving these ambitious goals and welcomed their ideas, innovations, and investments. He reiterated that India permits 100 percent FDI in ports and shipping, and that public-private partnerships are rapidly expanding. Under the “Make In India, Make For The World” vision, incentives are being provided, and states are being encouraged to attract investments. He urged investors from various countries to seize this moment to engage and expand in India’s shipping sector, stating that this is the right time.
