A historic milestone for India’s maritime ambitions was set in Bhavnagar, Gujarat, on September 19, 2025, at the “Samudra Se Samriddhi – Transforming India’s Maritime Sector” event. Here, 27 Memorandum of Understanding (MoUs) valued at over ₹66,000 crore were exchanged among public and private stakeholders, spanning state governments, industry leaders, and international partners. Addressed by Prime Minister Narendra Modi, the ceremony aimed to supercharge port infrastructure, shipbuilding clusters, green shipping innovations, and global partnerships—redefining India’s growth trajectory in the sector.
The gathering, presided over by Union Minister Sarbananda Sonowal, Labour Minister Dr Mansukh Mandaviya, and Minister of State Shantanu Thakur, showcased India’s integrated approach to maritime growth. From new port projects and sustainable water metros to partnerships with global shipyards and forward-thinking financing models, the event underlined an “Atmanirbhar Bharat” resolve while advancing toward the goal of Viksit Bharat by 2047.
Shri Sarbananda Sonowal emphasized: “Under the visionary leadership of Prime Minister Shri Narendra Modi, India’s maritime sector is undergoing a historic transformation. These initiatives reflect our commitment to building a strong, self-reliant and globally recognised maritime ecosystem. With ports, shipbuilding and sustainable projects advancing at this pace, we are steering India closer to the goal of Viksit Bharat by 2047.”
Port Development Takes Center Stage
One of the highlights was the landmark MoU between Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation Limited, and the Odisha government for a new port at Bahuda. With a projected capacity of 150 million tonnes per annum and stretching across 6,700 acres of designated salt land, the ₹21,500 crore development is poised to anchor port-led industrialization and logistics in Odisha and northern Andhra Pradesh. The port is expected to create direct and indirect employment for nearly 25,000 people, while catalyzing regional growth.
Patna’s water mobility received a boost as Inland Waterways Authority of India partnered with the Bihar government on a ₹908 crore Water Metro Project. The plan includes energy-efficient electric ferries, modern terminals, and multi-modal public transport integration, spanning ten terminals across four routes—transforming urban commute and serving as a model for similar riverine cities.
“These MoUs are a testament to India’s maritime resurgence. By fostering collaboration between states, industries and global partners, we are unlocking a new era of shipbuilding and port-led growth. This is not only about infrastructure, it is about creating jobs, empowering communities and establishing India as a leading maritime nation in the world,” Sonowal affirmed.
Advancing Shipping, Energy Independence and Shipbuilding
The ceremony also focused heavily on shipping sector reforms. A pioneering MoU between Shipping Corporation of India and IOCL, BPCL, and HPCL set the stage for a vessel-owning joint venture to meet the energy PSUs’ demand, reduce reliance on foreign fleets, and secure Indian shipping supply chains for crude oil transport. This strategic realignment boosts demand for Indian-built ships and strengthens the Government’s Atmanirbhar Bharat agenda.
Major moves in shipbuilding followed as MoUs were struck by the Ministry of Ports, Shipping and Waterways and state governments of Andhra Pradesh, Odisha, Gujarat, Maharashtra, and Tamil Nadu to create advanced shipbuilding clusters. These centers—backed by SPVs, land transfers at nominal cost, tax breaks, and innovation incentives—will integrate shipyards, R&D centers, ancillary units, and logistics corridors. The overall aim is to propel India into the world’s top five shipbuilding nations by the centenary of independence in 2047, featuring green innovation hubs and carbon-neutral marine engineering solutions.
International Partnerships and Industrial Linkages
India’s industry partnerships received a rational boost through Cochin Shipyard’s tie-up with HD Korea Shipbuilding & Offshore Engineering, which leverages India’s new dry dock to enable construction of Suezmax tankers, large container ships, and bulk carriers with capacities of up to six vessels annually. The 80-acre Block Fabrication Facility in Kochi, worth ₹3,700 crore, will create 2,000 direct jobs and thousands in allied MSMEs. Cochin Shipyard also announced a ₹15,000 crore shipbuilding complex in Tamil Nadu (SIPCOT and Guidance) and a greenfield yard in Thoothukudi via Mazagon Dock Shipbuilders and Guidance Tamil Nadu, promising massive advances in output and employment.
An MoU between Shipyard Association of India and Indian Steel Association seeks to prioritise domestic steel use, boosting synergies for industrial integration and making India’s shipbuilding more self-reliant.
Gujarat Maritime Board forged major deals with Act Infra Ports, Modest Infrastructure, Chowgule and Company, and SWAN Defence, with investments exceeding ₹13,600 crore earmarked for shipbuilding, repair, offshore infrastructure, and recycling in key maritime districts. Employment and industrial development in Gujarat and the eastern corridor are expected to surge.
Financing, Sustainability, and Maritime Heritage
Recognizing the need for financial innovation, Sagarmala Finance Corporation secured MoUs with Neo Fund, NaBFID, IIFCL, Climate Fund Managers, and others, unlocking capital and new instruments for green shipbuilding, modern fleets, and logistics infrastructure. Collaboration with SWAN Shipyard will tap future financing opportunities.
Celebrating maritime heritage, the Directorate General of Lighthouses and Lightships partnered with IPRCL for a museum at Lothal—a 77-meter lighthouse complex worth ₹266 crore. This blend of heritage preservation and tourism marks India’s commitment to cultural-economic maritime development.
In conclusion, the Bhavnagar MoU Exchange demonstrates India’s focus on comprehensive maritime sector expansion, with strategic investments targeting port infrastructure, job creation, global competitiveness, sustainability, and heritage preservation. With projects set to generate more than 1.5 lakh direct and indirect jobs and reposition India in global shipping and shipbuilding value chains, this coordinated effort reflects the growing impact and ambition of the country’s maritime policy.
