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Over 600 Memorandums of Understanding (MoUs) valued at over ₹12 lakh crore were signed at the ongoing India Maritime Week 2025 in Mumbai. “We will ensure that these MoUs will be honoured and implemented. Whatever promises were made will be fulfilled,” Union Shipping Minister Sarbananda Sonowal, told newspersons on Thursday. The government had set a target of about ₹10 lakh crore investment from the event but achieved beyond that, he said. Shipping Secretary Vijay Kumar said nearly 30 per cent of the total MoUs were pertaining to port development; 20 per cent in sustainable and green initiatives; 20 per cent in ship building; 20 per cent in port-led development and balance 10 per cent in trade, business and upskilling. Every global CEO expressed the highest level of satisfaction and promised that they are going to make massive investments in the country in future, the minister said. “This event could be one of the largest global maritime summits in the world. Over one lakh footfalls were seen alongside delegates from 85 countries and over 500 exhibitors. We will hold this once every two years. Mumbai will be the natural choice due to geographical advantage,” he added. During the previous edition in 2023, when investment worth ₹8.5 lakh crore was committed, the minister said, about ₹5 lakh crore was grounded. Long gestation The Shipping Secretary explained that maritime sector projects have long gestation periods. “However, already 60 per cent of the MoUs that were entered in the last maritime summit have actually been grounded. This means, money has been committed,” he said. Sunil Paliwal, Chairman, Indian Ports Association and Chairperson of both Chennai Port Authority and Kamarajar Port Ltd said the two ports attracted a total of ₹67,000 crore. The VOC Port in Thoothukudi attracted investment worth ₹30,000 crore, said port sources. Published on October 30, 2025
