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Sarbananda Sonowal Mumbai| New Delhi: Investment pledges worth ₹12 lakh crore have been signed at the India Maritime Week 2025, with nearly 20% focused on shipbuilding, union ports, shipping, and waterways minister Sarbananda Sonowal said on Thursday. The development aligns with India's goal to rank among the top five shipbuilding nations globally by 2047, Sonowal said. Investments worth ₹5.5 lakh crore have already been grounded, he said. Shipping serves as the backbone of India's foreign trade, handling nearly 90% of the country's export-import cargo by volume and about 70% by value, the minister noted.This dominance highlights the critical role maritime transport plays in sustaining India's trade flows, linking its ports to global supply chains, and supporting the movement of goods ranging from crude oil and coal to manufactured exports, he said.The MoUs signed at IMW 2025 cover a wide spectrum of collaborations across port development, sustainability, shipbuilding, port-led industrialisation, and trade facilitation.Live EventsOf the total investment value, approximately 30% is directed toward port development and modernisation, 20% toward sustainability, 20% for shipping and shipbuilding, 20% for port-led industrialisation, and the remaining 10% for trade and business knowledge partnerships.DP World announced $5-billion investments during the week across advancing green coastal and short-sea shipping, expanding and operating an international ship repair facility in Kochi, and designing and installation of a 750-metre MagRail Booster pilot track with the Deendayal Port Authority. Cochin Shipyard signed eight agreements, including with CMA CGM for liquefied natural gas (LNG) dual-fuel vessels and the Dredging Corporation of India (DCI) for dredgers.Swan Defence and Heavy Industries tied up with Mazagon Dock for naval ships, while Adani Ports and Odisha Maritime Board announced tug and cluster projects.Oil and gas PSUs launched 59 shipbuilding orders worth ₹47,800 crore.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndia Maritime Week 2025shipbuilding investmentsport developmentIndian shipping industrySustainability in maritimeDP World investmentsadani portscochin shipyard (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndia Maritime Week 2025shipbuilding investmentsport developmentIndian shipping industrySustainability in maritimeDP World investmentsadani portscochin shipyard(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
