India set to attract investments worth Rs 80 lakh crore in coming years: Sonowal

New Delhi: India is set to attract investments worth Rs 80 lakh crore, generate over 1.5 crore jobs, and accelerate green shipping practices in the coming years, Union Minister Sarbananda Sonowal said on Tuesday.

According to an official statement, the ports, shipping and waterways minister further said India's maritime sector is undergoing a transformative shift, positioning the nation as a future global maritime superpower.

PSU Watch is now on Whatsapp Channels. Click here to join

"India's maritime growth story is about prosperity, sustainability, and pride in our heritage. We have already set course as India's blue economy aims to gain Rs 80 lakh crore boost, 1.5 crore jobs under Maritime Amrit Kaal Vision," the statement quoted Sonowal as saying.

The statement said the government's flagship 'Sagarmala' programme is driving this change with 840 projects worth Rs 5.8 lakh crore under implementation by 2035.

Already, 272 projects worth Rs 1.41 lakh crore have been completed.

According to the statement, the upcoming Rs 76,000-crore Vadhavan Port in Maharashtra -- envisioned among the top 10 container ports globally -- is projected to create 12 lakh jobs.

Meanwhile, India's major ports have reduced turnaround time to 0.9 days, faster than global benchmarks in the US, Germany and Singapore. Nine Indian ports are now ranked among the world’s top 100.

Speaking on the key role that Kerala plays in India's ambition of becoming a global maritime power, Sonowal said, "Kerala anchors India's vision of becoming a maritime superpower by 2047. The Cochin Port and its Vallarpadam transhipment terminal are set for further expansion to accommodate rising cargo flows".

Under the Sagarmala project, he said 54 projects worth Rs 24,000 crore are being executed in Kerala, of which 20 are already complete.

These include modernised fishing harbours at Kochi, Kannur, and Thrissur, providing direct benefits to thousands of fishermen, Sonowal added.

With India Maritime Week 2025 scheduled in Mumbai this October, the government anticipates stronger international partnerships and fresh investment inflows.

Sonowal urged global stakeholders to deliberate on various issues, such as decarbonisation, supply chain resilience, cybersecurity, and sustainable shipping.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)