Mumbai, Oct 29 (NationPress) Prime Minister Narendra Modi stated on Wednesday that the maritime sector is a key driver of India’s economic advancement, highlighting its remarkable transformation over the past decade, which has significantly enhanced trade and port infrastructure.

The Prime Minister emphasized that in the context of global tensions, trade disruptions, and evolving supply chains, India stands as a beacon of strategic autonomy, fostering peace and inclusive growth.

“When the global seas are turbulent, the world seeks a reliable lighthouse. India is well-equipped to fulfill that role with strength and stability,” he remarked.

He urged investors to seize the moment and invest in India’s maritime sector, describing this as the opportune time for such endeavors.

“This is the prime time to engage and expand within India’s shipping industry. Numerous projects linked to the shipping sector have been inaugurated here, and MoUs worth crores of rupees have been signed,” PM Modi stated during his address at the Global Maritime CEO Forum, part of the flagship India Maritime Week (IMW) 2025.

This reflects the global confidence in India’s maritime capabilities, he added. “Your participation in this event represents our shared commitment,” PM Modi expressed.

He further noted that in this 21st century, India’s maritime sector is advancing rapidly and vigorously.

“The year 2025 is pivotal for India's maritime sector, marked by numerous significant achievements. Today, India’s ports rank among the most efficient in the developing world and, in many respects, outperform those in developed nations. We have replaced colonial shipping laws that were over a century old with modern, futuristic regulations suitable for the 21st century,” he remarked.

He highlighted that the new regulations empower State Maritime Boards, prioritize Safety and Sustainability, and enhance Digitalization in Port Management.

PM Modi reiterated that India's maritime sector is progressing with remarkable speed and vigor.

“The year 2025 has been a landmark moment for Bharat's maritime sector, characterized by numerous notable accomplishments,” he noted.

The Prime Minister pointed out that India’s inaugural deep-water international transshipment hub, Vizhinjam Port, became operational this year.

“In a proud moment for the nation, the world’s largest container vessel recently docked at the port, showcasing its global capabilities. During the fiscal year 2024–2025, India’s major ports broke records in cargo throughput, setting new efficiency benchmarks,” he stated.

PM Modi highlighted that Kandla Port made history by launching the nation’s first megawatt-scale indigenous green hydrogen facility.

“We have abolished colonial shipping laws over 100 years old and instituted modern, forward-thinking regulations for the 21st century,” the Prime Minister declared.

PM Modi also mentioned that India is intensifying its efforts to elevate shipbuilding, with the country now designating large vessels as infrastructure assets.

Significant progress has been made towards implementing next-generation reforms in the maritime sector, he noted.

“India is making exceptional progress in the shipping industry, especially in human resource development. Over the past decade, the number of Indian seafarers has surged from 1.25 lakh to over 3 lakh, positioning India among the top three nations globally in terms of total seafarers,” he commented.

PM Modi mentioned that under the Maritime India Vision, more than 150 initiatives have been launched, leading to substantial enhancements across the maritime sector.

“The capacity of India's major ports has doubled, and turnaround times have been significantly shortened,” he stated.

Moreover, PM Modi noted that cruise tourism has gained considerable momentum, and inland waterways have experienced remarkable growth, with cargo movement increasing by over 700 percent.

“The number of operational waterways has expanded from only three to an impressive 32. Additionally, the net annual surplus of our ports has seen a ninefold increase in the past decade,” he concluded.