Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal announced on Thursday that 600 memorandums of understanding (MoUs) worth Rs 12 trillion in investment proposals were signed during India Maritime Week 2025 (IMW 2025). The agreements mark a major step towards transforming India into a global maritime superpower.

Addressing the media, Sonowal said that CEOs of 11 leading global shipping companies participated in IMW 2025, which began on 27 October at the Bombay Exhibition Centre and concludes on Friday.

He reaffirmed the Narendra Modi government’s commitment to expanding and modernising India’s port infrastructure to ensure that the country is equipped to handle future maritime challenges.

Providing further details, Vijay Kumar, Secretary, Ministry of Ports, Shipping and Waterways, said that 30 per cent of the MoUs signed are aimed at port development and modernisation, while 20 per cent focus on green shipping initiatives. Another 20 per cent are dedicated to domestic shipbuilding, 20 per cent to port-led industrialisation, and 10 per cent to trade promotion, business expansion, and skill development.

The five-day event serves as a platform to highlight India’s maritime ambitions and attract domestic and international investment. It also showcases the government’s recent policy reforms and fiscal incentives designed to strengthen the sector’s competitiveness.

Sonowal added that these collaborations underscore India’s growing importance in global trade and logistics, reaffirming its vision of becoming a maritime powerhouse under the Maritime India Vision 2030 framework.