New Delhi: Union Minister of Commerce and Industry Piyush Goyal emphasized the vast potential for the shipbuilding industry in India and the government’s commitment to promoting this sector.
During his virtual address at the 12th Biennial International Conference on Ports, Shipping & Logistics 2025 in Mumbai, he noted that India has the advantage of permitting cabotage for vessels and allows imports via Indian-flagged ships under WTO regulations. However, he pointed out that the country lacks sufficient flagged vessels to fully leverage these opportunities.
Goyal encouraged industry stakeholders to propose ways to make vessel registration in India more appealing and to suggest initiatives at both state and central levels to attract flagged vessels.
He highlighted that India’s port capacity has doubled in the past decade, significantly reducing ship turnaround times, but acknowledged that further efforts are needed to enhance the logistics ecosystem.
The Minister also called for a hybrid training approach to address the increasing demand for seafarers. He identified key areas for improvement, including container ownership, manufacturing, export speed, and reducing congestion.
Noting that 95% of India’s trade volume transits through ports and that the country’s 7,500 km coastline facilitates trade, Goyal expressed optimism about the sector’s growth potential in the coming years. He stressed the necessity for a logistics system that can effectively manage current port traffic.
The introduction of the Unified Logistics Interface Platform (ULIP) aims to support logistics, but more innovative ideas are needed to create a cohesive logistics ecosystem at ports.
Goyal described the ports, shipping, and logistics sectors as vital to the nation’s economy, stating that maritime trade serves as a connection to global opportunities. He expressed hope that India would continue to thrive and contribute positively to the world, underscoring the importance of the maritime trade and logistics sector in achieving a developed India (Viksit Bharat).