1. Home
  2. Infrastructure Transport
  3. PORTS & SHIPPING
  4. India to be among top 10 global ship manufactures: Sonowal
India to be among top 10 global ship manufactures: Sonowal
PORTS & SHIPPING

India to be among top 10 global ship manufactures: Sonowal

21 Nov 2024 2 Min Read CW Team
India will be among the top 10 global manufacturers of ships by 2030, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said. Addressing 'Sagarmanthan - The Great Oceans Dialogue', Sonowal further said the global South will determine the shape of ocean trade in the 21st Century. "Given that India has the rich talent pool as well as resources to become a major shipbuilding nation, we are aiming to enter the top 10 of shipbuilding countries by 2030 while working our way to become the world's top 5 by 2047," he said. The minister also interacted with technical experts on creating a circular blue economy. According to an official statement, while the session focused on sustainability at sea as a priority, the discussion attempted to hedge solutions around its many challenges. India's maritime sector serves as the backbone of its trade and commerce, handling around 95 % of the country's trade by volume and 70 % by value. With 12 major ports and over 200 notified minor and intermediate ports, the country's port infrastructure underpins its growing economy. As the sixteenth-largest maritime nation in the world, India occupies a key position on global shipping lanes. Most cargo ships travelling between East Asia and destinations like America, Europe, and Africa traverse Indian waters, highlighting the nation's strategic importance. The sector's contributions extend beyond trade. India boasts a fleet of 1,530 ships sailing under its flag as of 2023. Additionally, the country is the third-largest in the world in terms of ship recycling by tonnage. In the financial year 2024 alone, Indian ports managed 819.22 million tonnes of cargo, a 4.45 % rise year-on-year. This growth aligns with a surge in merchandise exports, which climbed to $ 451 billion in FY23 from USD 417 billion a year ago

India will be among the top 10 global manufacturers of ships by 2030, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said. Addressing 'Sagarmanthan - The Great Oceans Dialogue', Sonowal further said the global South will determine the shape of ocean trade in the 21st Century. Given that India has the rich talent pool as well as resources to become a major shipbuilding nation, we are aiming to enter the top 10 of shipbuilding countries by 2030 while working our way to become the world's top 5 by 2047, he said. The minister also interacted with technical experts on creating a circular blue economy. According to an official statement, while the session focused on sustainability at sea as a priority, the discussion attempted to hedge solutions around its many challenges. India's maritime sector serves as the backbone of its trade and commerce, handling around 95 % of the country's trade by volume and 70 % by value. With 12 major ports and over 200 notified minor and intermediate ports, the country's port infrastructure underpins its growing economy. As the sixteenth-largest maritime nation in the world, India occupies a key position on global shipping lanes. Most cargo ships travelling between East Asia and destinations like America, Europe, and Africa traverse Indian waters, highlighting the nation's strategic importance. The sector's contributions extend beyond trade. India boasts a fleet of 1,530 ships sailing under its flag as of 2023. Additionally, the country is the third-largest in the world in terms of ship recycling by tonnage. In the financial year 2024 alone, Indian ports managed 819.22 million tonnes of cargo, a 4.45 % rise year-on-year. This growth aligns with a surge in merchandise exports, which climbed to $ 451 billion in FY23 from USD 417 billion a year ago

Next Story
Infrastructure Urban
05 Dec 2024

Tamil Nadu Pushes for 15 Cities in Smart City 2.0 Initiative

Tamil Nadu has urged the Union Ministry of Housing and Urban Affairs to include 15 of its cities in the upcoming Smart City 2.0 initiative, expected to commence in 2025. The program, designed to enhance civic, mobility, and infrastructure development, aims to select 100 cities nationwide through a special purpose vehicle framework. Municipal Administration Minister K. N. Nehru and DMK Parliamentary Party Leader Kanimozhi formally presented the request to Union Minister Manohar Lal Khattar. Under the initial Smart City program launched in 2015, Tamil Nadu was allotted 12 cities, including Chen..

Read More
Next Story
Infrastructure Transport
05 Dec 2024

NHAI Begins Road Widening at Old Katol Naka; Completion by April 2025

The National Highways Authority of India (NHAI) has commenced road widening work between Old Katol Naka and Fetri, aiming to ease the challenges faced by motorists due to the road's narrow width. The NHAI assured the Nagpur bench of the Bombay High Court that the project would be completed by April 2025. This commitment was made during a hearing on Monday before Justices Nitin Sambre and Vrushali Joshi, with the next session scheduled for December 17. The High Court raised concerns about the lack of tree plantations along several highways. In response, NHAI pledged to penalise contractors wh..

Read More
Next Story
Infrastructure Transport
05 Dec 2024

Underwater Tunnel in Brahmaputra: Assam CM Meets Minister Gadkari

Assam Chief Minister Himanta Biswa Sarma met Union Minister of Road Transport and Highways Nitin Gadkari to discuss the commencement of the ambitious underwater tunnel project in the Brahmaputra River. The proposed tunnel will connect Gohpur and Numaligarh, linking the north and south banks of the Brahmaputra. Sarma acknowledged the central government’s robust support for the project, expressing gratitude for its assistance. Sharing updates on social media platform X, Sarma said, "Happy to share! Just concluded an excellent meeting with Hon'ble Union Minister Shri @nitin_gadkari Ji. I am tru..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Tamil Nadu Pushes for 15 Cities in Smart City 2.0 Initiative
SMART CITIES
05 Dec 2024

Tamil Nadu Pushes for 15 Cities in Smart City 2.0 Initiative

NHAI Begins Road Widening at Old Katol Naka; Completion by April 2025
ROADS & HIGHWAYS
05 Dec 2024

NHAI Begins Road Widening at Old Katol Naka; Completion by April 2025

Underwater Tunnel in Brahmaputra: Assam CM Meets Minister Gadkari
ROADS & HIGHWAYS
05 Dec 2024

Underwater Tunnel in Brahmaputra: Assam CM Meets Minister Gadkari

India Courts South Korean Shipyards to Boost Shipbuilding Industry
PORTS & SHIPPING
05 Dec 2024

India Courts South Korean Shipyards to Boost Shipbuilding Industry

Nepal and China Sign Revised Belt and Road Cooperation Framework
ROADS & HIGHWAYS
05 Dec 2024

Nepal and China Sign Revised Belt and Road Cooperation Framework

India Cuts Ship Turnaround Time at Ports by Nearly 49%
PORTS & SHIPPING
05 Dec 2024

India Cuts Ship Turnaround Time at Ports by Nearly 49%

CCI Approves GMR Infra Deal with Abu Dhabi Investment Authority
ECONOMY & POLICY
05 Dec 2024

CCI Approves GMR Infra Deal with Abu Dhabi Investment Authority

Civil Aviation Minister Launches Deoghar-Mumbai Flight Service
AVIATION & AIRPORTS
05 Dec 2024

Civil Aviation Minister Launches Deoghar-Mumbai Flight Service

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000