'We are the land of Cholas': PM Modi sets vision for India to lead global shipbuilding, with Rs 70,000 crore push

Prime Minister Narendra Modi on Wednesday said that India's maritime sector has seen a historic progress over the past 11 years. He announced a ₹70,000 crore boost for India’s maritime sector and introduced five key legislations aimed at modernizing governance, simplifying trade, and aligning India with global standards.

Addressing the Maritime Leaders Conclave in Mumbai during India Maritime Week 2025, Modi announced a comprehensive investment package, including schemes aimed at attracting ₹4.5 lakh crore in investment to build more than 2,500 vessels. 

Discussing reforms, Modi underscored the importance of new laws such as the Bills of Lading Bill and the Indian Ports Bill (2025) for improving transparency and efficiency. 

“These steps will position India as a global leader in shipbuilding and maritime innovation,” he said. The Prime Minister called Mumbai “a vibrant port hub with a maritime legacy” dating back to Chhatrapati Shivaji Maharaj. 

He praised the city’s modern port infrastructure as a symbol of India’s growing maritime strength. Meeting top CEOs and industry leaders, Modi expressed confidence in India’s port-led development vision. 

Reflecting on the nation’s maritime history, he said, “We are the land of the Cholas and Marathas, whose naval might and trading spirit shaped our progress.” He noted that when his government took office, the sector was burdened by outdated laws and limited capacity, adding, “Over the past eleven years, reforms and infrastructure projects have transformed India’s maritime landscape.”

Modi highlighted India's maritime achievements, including the doubling of port capacity from 1,400 to 2,762 million metric tonnes per annum and a rise in cargo handling from 972 to 1,594 million metric tonnes. Vessel turnaround time has been cut from 93 to 48 hours, while the sector’s net surplus jumped from ₹1,026 crore to ₹9,352 crore. He stated, “India’s seafarer workforce has more than doubled, making us one of the top three global suppliers.”

Spotlighting shipping and inland waterways, Modi said they represented new engines of growth, with coastal cargo nearly doubling and inland waterway cargo growing over 700%. The number of operational waterways expanded from 3 to 32, and ferry and Ro-Pax services carried 7.5 crore passengers last year.

On sustainability, he noted, “Vizhinjam Port is India’s first deep-water transshipment hub, and Kandla hosts our first green hydrogen facility.” He also highlighted the ₹76,000 crore Vadhvan Port project in Maharashtra, which will boost the region’s economy with its deep draft and strategic connectivity.

Inviting global investors, Modi concluded, “India offers the perfect harbour for investments. With infrastructure, innovation, and the energy of our youth, India is ready to lead the world in maritime development. Come aboard.”