India's Maritime Comeback: From 20th to Top 5?

India, historically a maritime superpower, has significantly declined in global shipping, currently ranking 20th with only 0.06% of global shipbuilding tonnage. Foreign ships handle 92% of India's trade, costing the nation $75 billion annually, a sum exceeding its defense budget. Recent global events like the pandemic and Red Sea crisis exposed India's strategic vulnerability due to its inadequate domestic fleet, prompting a policy overhaul.

The Indian government has launched 'Maritime India Vision 2030' and the long-term 'Maritime Amrit Kaal Mission 2047' with a goal to establish a robust domestic fleet and shipbuilding industry among the world's top five. A substantial package of ₹69,725 crore was announced in September to revitalize shipbuilding and vessel ownership, aiming to revive India's ancient maritime legacy.

Historically, India dominated sea trade from the Bronze Age until the 12th century, a dominance lost through industrialization and colonial policies. Modern efforts focus on overcoming challenges like low automation and high production costs. The government is attracting foreign investment, with HD Hyundai already establishing a shipyard, and mandating public sector companies to own 30% of their fleet requirements to stimulate demand and build capacity for future global shipping booms.