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India Charts Course for Blue Economy Dominance
30 Jan
Summary
- India aims to be a top global player in the Blue Economy.
- Over 90% of India's trade volume moves through sea routes.
- Government targets top five shipbuilding position by 2047.
India is emerging as a formidable global leader in the Blue Economy, bolstered by a comprehensive strategy encompassing ports, shipbuilding, logistics, renewable energy, and associated maritime industries. This focus is central to India's economic transformation and sustainable growth aspirations under the Viksit Bharat 2047 vision.
The nation's maritime sector is crucial for trade, with over 90% of its commerce by volume utilizing sea routes. India is actively enhancing its global shipping capabilities and services.
Government objectives include positioning India among the top 10 shipbuilding nations, increasing capacity significantly, and integrating over 60% renewable energy usage at major ports.
The Maritime Amrit Kaal Vision 2047 outlines ambitious targets, including a top-five global ranking in shipbuilding and continued leadership in ship recycling. Key strategies involve developing carbon-neutral ports, promoting green fuels, and offering financial incentives for low-emission vessels.
India currently handles 30-35% of global ship recycling tonnage, contributing substantially to domestic ferrous scrap needs. The Alang-Sosiya yards in Gujarat are compliant with international standards, supporting a green steel ecosystem and employment.
Major policy reforms enacted in 2025, including five new mercantile marine legislations, aim to modernize regulations, simplify business operations, and align India's maritime framework with international best practices.
