Sagarmanthan 2024 Charting India’s Maritime Future

India’s maritime sector stands as a beacon of its economic ambitions and global aspirations. With a 7,500-kilometer coastline, 12 major ports, and over 200 minor ports, the nation handles the lion’s share of its trade via the seas, contributing significantly to its GDP. The Sagarmanthan Dialogue 2024 has reinforced India’s commitment to becoming a global maritime leader by fostering discussions on sustainability, innovation, and connectivity.

Overview of India’s Maritime Sector

• India’s coastline spans 7,500 kilometers, anchoring 12 major ports and over 200 minor ports.
• Handles 95% of India’s trade by volume and 70% by value.
• Third-largest in ship recycling globally, with a fleet of 1,530 ships under the Indian flag (2023).
• India ranks as the sixteenth-largest maritime nation and is pivotal in global shipping routes.

Key Statistics and Developments

• Port Capacity Growth: Cargo-handling capacity at major ports grew from 871.52 million tonnes in 2014-15 to 1,629.86 million tonnes in 2023-24 (87.01% growth).
• Cargo Volume: Managed 819.22 million tonnes in FY24, up 4.45% from FY23.
• Exports: Merchandise exports rose to USD 451 billion in FY23, up from USD 417 billion in FY22.

Recent Milestones in the Maritime Sector

• Container Turnaround Time: Reduced to 22.57 hours in 2023-24, exceeding global benchmarks.
• Paradip Port: Became India’s largest port by cargo volume in FY24, handling 145.38 million tonnes.
• New Shipping Company: Plans to expand India’s fleet by 1,000 ships by 2047 to cut foreign freight costs.

Major Investment Plans

• USD 82 billion allocated for port infrastructure by 2035.
• Approval of a new port at Vadhavan, Maharashtra with a cost of ₹76,220 crore (USD 9.14 billion) in June 2024.
• Shipbuilding Financial Assistance Policy: Provided ₹337 crore (USD 40.40 million) in aid to boost competitiveness.

Government Schemes in the Maritime Sector

Sagarmala Programme

• Focus: Port-led development leveraging India’s coastline and waterways.
• Key Projects: Coastal berths, road/rail connectivity, cruise terminals, fish harbors, and Ro-Pax ferry services.
• Status: 130 projects sanctioned, with a total allocation of ₹3,714 crore (as of July 2024).

Maritime India Vision (MIV) 2030

• Objective: Establish India as a global maritime leader.
• Covers 150+ initiatives across themes like port modernization, shipyards, and inland waterways.

Inland Waterways Development

• 26 new national waterways identified to provide an alternative transport mode, reducing congestion on roads and rails.

Green Tug Transition Program (GTTP)

• Aim: Replace fuel-based harbor tugs with eco-friendly tugs by 2040.

Sagarmanthan 2024: India’s Maritime Vision

Event Overview

• Dates: November 18–19, 2024.
• Location: New Delhi.
• Organized by: Ministry of Ports, Shipping, and Waterways (MoPSW) in partnership with the Observer Research Foundation (ORF).
• South Asia’s largest maritime thought leadership forum bringing together global policymakers, business leaders, and visionaries.

Thematic Pillars of Sagarmanthan

• Blue Economy: Strategies for sustainable ocean-based economic activities.
• Global Supply Chains: Enhancing resilience and efficiency in maritime trade.
• Maritime Logistics: Innovations in shipping, ports, and connectivity.
• Sustainable Growth: Balancing development with environmental responsibility.

Summary/Static	Details
Why in the news?	India’s Maritime Sector and Sagarmanthan 2024
India’s Maritime Sector
Coastline and Ports	7,500 km coastline, 12 major ports, and 200+ minor ports
Trade Significance	Handles 95% of India’s trade by volume and 70% by value
Global Ranking	16th-largest maritime nation; 3rd-largest in ship recycling
Fleet Size	1,530 ships under the Indian flag (2023)
Key Statistics
Port Capacity Growth	Increased from 871.52 million tonnes (2014-15) to 1,629.86 million tonnes (2023-24), an 87.01% growth
Cargo Volume	Managed 819.22 million tonnes in FY24, a 4.45% rise from FY23
Exports	Merchandise exports reached USD 451 billion in FY23, up from USD 417 billion in FY22
Recent Milestones
Container Turnaround	Reduced to 22.57 hours in 2023-24, exceeding global benchmarks
Paradip Port	Largest port by cargo volume in FY24 (145.38 million tonnes)
Fleet Expansion	Plans to add 1,000 ships to India’s fleet by 2047 to reduce foreign freight costs
Government Schemes
Sagarmala Programme	Focus on port-led development and coastal infrastructure; 130 projects sanctioned with a total allocation of ₹3,714 crore.
MIV 2030	Maritime India Vision 2030 with 150+ initiatives for port modernization, inland waterways, and global maritime leadership.
Inland Waterways	26 new national waterways identified for cost-effective, eco-friendly transport
Green Tug Program	Transition to eco-friendly harbor tugs by 2040.
Sagarmanthan 2024
Event Overview	Held November 18–19, 2024, in New Delhi; organized by MoPSW and ORF.
Significance	South Asia’s largest maritime thought leadership forum; platform for global leaders to discuss maritime sustainability and innovation.
Thematic Pillars	Blue Economy, Global Supply Chains,  Maritime Logistics,  Sustainable Growth.