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Date: 22/11/2024

India to be among top 10 ship manufacturers by 2030, top 5 by 2047: Sonowal

India aims to become a leading, top 10 global shipbuilding nation by 2030, with aspirations to be among the top five by 2047, announced Mr Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, while speaking at ‘Sagarmanthan - The Great Oceans Dialogue.’ India is focused on enhancing its shipbuilding and sustainability efforts, including fostering a Circular Blue Economy. The maritime sector, which handles about 95% of India’s trade by volume and 70% by value, forms the backbone of its trade and commerce. India’s contributions include a fleet of 1,530 ships and being the third-largest in ship recycling by tonnage. In FY24, Indian ports handled 819.22 million tonnes of cargo, marking a 4.45% YoY growth. This reflects the surge in merchandise exports, he said, as per a report.
 
source: Exim News Service: New Delhi, Nov. 21



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