Singapore

India’s ports are rapidly evolving from traditional cargo gateways into integrated logistics and industrial hubs, supported by public-private partnerships and international best practices, according to Vijay Kumar.

Speaking to nearly 200 investors and industry representatives during a round-table at Singapore Maritime Week 2026, Kumar said India is moving decisively to strengthen growth, attract investments and integrate more deeply into global value chains.

He highlighted significant progress in port infrastructure, stating that cargo handling capacity has doubled since 2013-14 from 1,400 million tonnes per annum to 2,771 MTPA. India is targeting 3,500 MTPA by 2030 and 10,000 MTPA by 2047. In the financial year 2025-26, major Indian ports handled more than 915 million tonnes of cargo, the highest ever, recording annual growth of over seven per cent.

Kumar also outlined developments in shipbuilding and shipping. He said India is establishing a national container line, expanding its energy fleet through joint ventures and promoting ship financing through GIFT City.

He said India has projected demand for 437 vessels under a government-wide acquisition plan worth around Rs 2.2 lakh crore over 15 years. This includes ships for oil and gas public sector units, the Shipping Corporation of India fleet, green tugboats and dredgers. Tenders for 34 vessels have already been issued, with strong participation from Indian shipyards.

According to Kumar, GIFT City is emerging as India’s maritime financial hub, helped by tax benefits, customs and GST exemptions and simplified regulations. Around 20 vessels have already been registered there, including by CMA CGM and Maersk. India aims to place its fleet among the global top five in gross tonnage by 2047.

He said India’s broader maritime transformation includes a Rs 69,725-crore package to boost shipbuilding. This includes the Shipbuilding Financial Assistance Scheme, Maritime Development Fund and Shipbuilding Development Scheme for new clusters, expansion projects and affordable long-term financing.

Recent commercial orders include six dual-fuel LNG container vessels by CMA CGM at Cochin Shipyard and six chemical tankers by Norwegian firm Redreiet Stenerson at Swan Energy Pipavav Shipyard.

Kumar also said India is focusing on sustainability through green ports, fuels and vessels. Under the National Green Hydrogen Mission, Kandla Port, Paradip Port and Tuticorin Port are being developed as green hydrogen hubs.

He added that companies such as L&T, Reliance Industries, Welspun and AM Green have together acquired about 3,400 acres at Kandla for green hydrogen and ammonia projects.

READ MORE: Pahalgam attack anniversary: Memorial for Adil, 25 tourists mocks Pak's treachery

The round-table also witnessed the signing of seven business-to-business agreements.