27 MoUs Worth over Rs 660 Bn Signed to Transform India’s Maritime Sector

01 Oct 2025 CW Team

The MoUs cover a comprehensive spectrum of India’s maritime ambitions, including port infrastructure, shipping, shipbuilding clusters, global shipyard partnerships, green maritime projects, water metros, and heritage-linked initiatives. These projects aim to position India as a leading global maritime and shipbuilding hub by 2047, supporting the vision of an Atmanirbhar Bharat.

Key highlights include:

Bahuda Port Development (Odisha): Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation, and the Odisha government signed an MoU for a new port with 150 MTPA capacity on 6,700 acres, attracting investments of Rs 215 billion and generating around 25,000 direct and indirect jobs.
Water Metro in Patna (Bihar): An MoU between the Inland Waterways Authority of India and the Bihar government for a Rs 9.08 billion project deploying energy-efficient electric ferries, modern terminals, and multimodal waterway transport integration.
Shipping Sector Collaboration: Shipping Corporation of India partnered with IOCL, BPCL, and HPCL to form a Vessel Owning Joint Venture Company, aiming to reduce foreign fleet dependence and promote Indian-built ships under Atmanirbhar Bharat.
Shipbuilding Clusters: State governments of Andhra Pradesh, Odisha, Gujarat, Maharashtra, and Tamil Nadu will collaborate with the Centre to develop state-of-the-art shipbuilding clusters, green innovation hubs, and R&D facilities, enhancing India’s global shipbuilding competitiveness.

News source: Business Standard

India witnessed a landmark series of agreements at the “Samudra Se Samriddhi – Transforming India’s Maritime Sector” programme in Bhavnagar, Gujarat. Twenty-seven Memorandums of Understanding (MoUs) were signed between public and private stakeholders, state governments, and international partners, collectively representing investments exceeding Rs 660 billion. The event was addressed by Prime Minister Narendra Modi and witnessed the participation of Union Ministers Sarbananda Sonowal, Dr Mansukh Mandaviya, and Shantanu Thakur.The MoUs cover a comprehensive spectrum of India’s maritime ambitions, including port infrastructure, shipping, shipbuilding clusters, global shipyard partnerships, green maritime projects, water metros, and heritage-linked initiatives. These projects aim to position India as a leading global maritime and shipbuilding hub by 2047, supporting the vision of an Atmanirbhar Bharat.Key highlights include:Bahuda Port Development (Odisha): Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation, and the Odisha government signed an MoU for a new port with 150 MTPA capacity on 6,700 acres, attracting investments of Rs 215 billion and generating around 25,000 direct and indirect jobs.Water Metro in Patna (Bihar): An MoU between the Inland Waterways Authority of India and the Bihar government for a Rs 9.08 billion project deploying energy-efficient electric ferries, modern terminals, and multimodal waterway transport integration.Shipping Sector Collaboration: Shipping Corporation of India partnered with IOCL, BPCL, and HPCL to form a Vessel Owning Joint Venture Company, aiming to reduce foreign fleet dependence and promote Indian-built ships under Atmanirbhar Bharat.Shipbuilding Clusters: State governments of Andhra Pradesh, Odisha, Gujarat, Maharashtra, and Tamil Nadu will collaborate with the Centre to develop state-of-the-art shipbuilding clusters, green innovation hubs, and R&D facilities, enhancing India’s global shipbuilding competitiveness. News source: Business Standard

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