India’s INR51,383-crore shipping plan reshapes fleet capacity

It will align shipbuilding targets with multi-sector coordination framework.

India plans to add 62 vessels in FY2026–27 under a INR51,383-crore investment programme to expand maritime capacity, according to a press release.

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said the plan targets an additional 2.85-million gross tonnage capacity, adding that the initiative forms part of efforts to build a self-reliant shipping ecosystem.

The announcement followed a high-level inter-ministerial review meeting on maritime trade risks, including developments linked to the Strait of Hormuz.

The meeting included senior officials from the Ministry of Petroleum and Natural Gas, oil public sector undertakings, the Ministry of Chemicals and Fertilisers, the Directorate General of Shipping, the National Shipping Board, and the Directorate General of Foreign Trade.

Officials reviewed cargo flows, vessel movements, and operational preparedness across maritime segments.

The expansion plan covers container vessels, LPG carriers, crude carriers, green tugs, dredging vessels, and tankers.

The meeting also reviewed the joint venture between the Shipping Corporation of India (SCI) and oil public sector undertakings to acquire 59 vessels, with Sonowal stating SCI is equipped to build specialised vessels for ammonia transport.

Sonowal directed ministries and agencies to prepare an actionable white paper outlining gaps, targets, and a time-bound roadmap for the maritime sector.

He asked the Ministry of Petroleum and Natural Gas, the Ministry of Chemicals and Fertilisers, and the Ministry of Commerce and Industry to coordinate inputs.

He said the white paper will form the basis of a subsequent inter-ministerial review.

The meeting also addressed supply chain security and maritime preparedness, with officials directed to maintain vigilance over seafarer safety in sensitive maritime zones.

The government said it will continue to monitor regional developments whilst progressing long-term measures to expand shipping capacity and port infrastructure.