New Delhi: Union Minister Sarbananda Sonowal on Thursday said 600 memorandums of understanding (MoUs) worth Rs 12 lakh crore investment proposals in the shipping sector were signed at India Maritime Week 2025.
Addressing the media, the ports, shipping and waterways minister said India is going to become a superpower in the maritime sector.
He said CEOs of 11 global shipping companies participated in India Maritime Week 2025 (IMW 2025), which started on October 27 at the Bombay Exhibition Centre and will conclude on Friday.
Sonowal said the Narendra Modi government is committed to enhancing India's port capacity so that the country can be competent to handle any kind of eventualities in the future.
Speaking at the event, Secretary, Ports, Shipping and Waterways, Vijay Kumar said 30 percent of MoUs signed for port development and modernisation, 20 percent of pacts signed to promote green shipping, 20 per cent for encouraging domestic shipbuilding, 20 percent for promoting port-led industrialisation and 10 percent for promoting trade, business and skilling.
The five-day event aims to showcase India's maritime ambitions, and the government is keen to attract investment in the sector by highlighting recent reforms and fiscal packages.
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