Vice Admiral Puneet Kumar Bahl, AVSM, VSM (Retd)
India envisions to become Viksit Bharat by 2047, marking 100 years since independence. This ambitious goal calls for collective effort, integrated planning, all round transformation and robust governance. Currently, the 5th largest economy in terms of nominal GDP, India is poised to become the 3rd largest by 2028[1], thanks to a strong domestic demand, a vibrant young workforce, a growing middle class, and thriving sectors like IT, agriculture, and manufacturing among others. In 2023, the nation contributed to 16 percent of global growth[2]. As India rises and ascends the global stage, its maritime sector emerges as a linchpin for commerce, connectivity, and international cooperation.
In this context, it becomes important for us to recognise the strength of our blue economy and understand what steps are being taken by the Government to develop our Nation in this dimension. This article intends to provide a brief overview of the same with special focus on shipping, port led development, inland waterways (IW) and cruise sector development through the Government Schemes that holds much promise in shaping our destiny in the field of maritime sector development.
India had a glorious past and was called the proverbial ‘Golden Sparrow’ over a large timeframe from 3000 BCE till 1000 AD, when it comprised of more than 30% of the world GDP[3]. India also had a rich maritime legacy, dating more than 5000 years ago to the Indus Valley Civilization. The Rig Veda (compiled between 1500-1200 BCE)[4] refers to Lord Varuna, the God of the Seas, and credits him with oceanic knowledge. Powerful dynasties like the Cholas, Cheras, and Pandyas maintained maritime trade links with Southeast Asia and beyond. Trade, economy and a rich maritime culture flourished resulting in a prosperity for the people.
The Indian subcontinent exercised great influence over the Indian Ocean Region from very early times till the 13th Century. Arrival of the Europeans (late 15th Century to 17th Century), through the medium of the seas, unfortunately, lead to colonization of India by the British, though regional leaders like the Marathas and Zamorins put up strong resistance in the maritime arena. Consequently, India’s share of world income collapsed from 23% in 1700 (almost equal to Europe’s at that time) to as low as 3.8% in 1952[5]. It is, therefore, easy to see that the economic and maritime strength of India in the past was undisputed, and the endeavor is now on to Make India Great Again through the Amrit Kaal Vision 2047, with a view to guide and inspire the Nation towards our tryst with destiny.
Blue Economy and its Key Pillars
India has a great maritime orientation and its geography reinforces its maritime destiny. It has an Ocean named after her and its peninsular nature accords it with a strategic location astride key maritime trade routes of the world. With a 7,500 km coastline, resource rich 2.3 million square km Exclusive Economic Zone (EEZ), and inland waterways of 14,500 km, which are just beginning to be tapped for commerce, the potential for our Blue Economy is huge. Blue Economy is defined as the sustainable use of ocean resources for economic growth and livelihood. Currently, it contributes to 4% of GDP for India[6], with aspirations to reach double digits by 2047. Maritime economy’s share in the GDP stands 7.9% for China and more than 20% for most of ASEAN states[7]. Key sectors in Blue Economy are indicated in the succeeding paragraphs.
Port-led development and Shipping. This underpins the national logistics efficiency. India currently has 12 major ports with two more under development and 217 other ports. These ports handle around 95% of the country’s trade by volume and 70% by value[8]. Of the total cargo, over 54% is handled at the country’s major ports[9]. Incidentally it is important to note that marine transport is the cheapest mode to carry heavy cargo as compared to road, rail or air. Maritime transport, therefore, is pivotal for India’s trade and efforts are underway to make the sector more sustainable. The Maritime Amritkal Vision(MAKV) 2047 includes strategies to decarbonise shipping, introduce green fuels such as hydrogen and ammonia and create carbon-neutral ports. These initiatives aim to align India’s maritime sector with maritime industry initiatives under International Maritime Organisation (IMO)
to reach net zero greenhouse gas (GHG) emissions by around 2050. India, on its part, has committed to achieve net zero for overall GHG reduction by 2070[10].
Renewable Energy. Harnessing wave, tidal, and offshore wind energy for clean power for India is an important consideration. India aims to harness 30 GW of offshore wind energy capacity by 2030, especially along Gujarat and Tamil Nadu coasts[11]. Development will be slow due to high initial costs.
Deep-Sea Resources. India’s Deep Ocean Mission, launched in 2021, aims to explore the seabed for resources & biodiversity. International Seabed Authority (ISA), which operates under the umbrella of UN has granted rights to India to undertake deep sea mining in a 75,000 sq km area in Central Indian Ocean Basin (CIOB)[12].
Marine Biotechnology. This is another promising area, which looks at developing pharmaceuticals, biofuels, and innovative products from marine organisms. As billions all over the world seek food and resources, Planet Earth will struggle to fulfil the needs; hence Nations are looking at Arctic, Antarctic, space and deep Ocean for resources.
Fishing. India is the third-largest fish producer globally, after China {88.6 million tonnes(MT) annually} and Indonesia (22 MT)[13]. India employs over 60 million people with 24% being women. The PM Matsya Sampada Yojana aims to raise fish production from 15.8 to 22 million metric tons by this year (2025)[14].
Major Government Initiatives in the Maritime Development Sector. The three major Government initiatives that are energising maritime sector include the
following:-
- Sagarmala Programme[15]. Launched in 2015, it is a 20-year plan to promote port-led development. It aims to promote port-led development and harness the potential of India’s long coastline and extensive inland waterways.
- Maritime India Vision (MIV) 2030[16]. Launched in 2021, it is a 10-year roadmap with 150 initiatives across 10 themes to improve our Blue Economy.
- Maritime Amrit Kaal Vision (MAKV) 2047[17]. Launched in 2023, it identifies over 300 action points to transform the maritime sector across 11 themes. It complements Sagarmala and MIV, to take India into its golden year of 2047.
(To be Continued…)
[1] PTI, “India to be the third largest Economy by 2028”, The Economic Times E Paper, 13 March 2025, https://economictimes.indiatimes.com/news/economy/indicators/india-to-be-3rd-largest-economy-by-2028-morgan-stanley
[2] Anwesha Madhukalya, “India a ‘star performer’; projected to contribute over 16% to global growth: IMF”Business Today, 19 December, 2023,
https://www.businesstoday.in/latest/economy/story/india-a-star-performer
[3] Maddison, Angus (2003): Development Centre Studies The World Economy Historical Statistics: Historical Statistics, (OECD Publishing:2003, ISBN 9264104143), p. 261 accessed 15 April 2025,
https://en.wikipedia.org/wiki/Economic_history_of_India
[4] the philosopher.net accessed 18 April 2025,
https://thephilosopher.net/veda/
[5]Address by Prime Minister Dr. Manmohan Singh in acceptance of Honorary Degree from Oxford University,08 July 2005,
[6] Sashwat Mohanty,” Blue economy comprises 4.1% of GDP, says Secretary of Earth Sciences” Economic Times E-paper, 31 January 2020,
[7] Chi Fulin,: “RCEP can release potential of region’s blue economy” China Daily, 09 January, 2025
https://www.chinadaily.com.cn/a/202501/09/WS677f105ea310f1265a1d9c2f.html
[8]GOI:PIB, “Sagarmanthan 2024: India’s Maritime Vision” posted 19 November 2024 https://pib.gov.in/PressNoteDetails.aspx?NoteId=153432&ModuleId=3®=3&lang=1
[9] PTI, “India’s major ports handled highest ever cargo at 795 million tonne in FY23”, Economic Times EPaper, 21 April 2023,
https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/indias-major-ports
[10] Matt McGrath, “COP26: India PM Narendra Modi pledges net zero by 2070” BBC News, 02 November, 2021,
https://www.bbc.com/news/world-asia-india-59125143
[11] Market Intelligence,“India Offshore Wind Energy”, International Trade Administration official website, posted on 27 April 2023
https://www.trade.gov/market-intelligence/india-offshore-wind-energy
[12] Office of Principal Scientific Advisor, Government of India,” Deep Ocean Exploration”, accessed on 30 March 2025,
https://www.psa.gov.in/mission/deep-ocean-exploration/39
[13] World Bank, “Fishing Industry by Country 2025”, World Population Review, 2025, accessed 25 March 2025,
https://worldpopulationreview.com/country-rankings/fishing-industry-by-country
[14] Ministry of Fisheries, Animal Husbandry and Dairying website, GOI, accessed on 10 April 2025
[15] PIB, GOI website, “Sagarmala Programme: Powering India’s Maritime Revolution”, 27 March 2025,
https://www.pib.gov.in/PressNoteDetails
[16] Ministry of Ports, Shipping and Waterways Government of India Report, 22 February, 2021
https://sagarmala.gov.in/sites/default/files
[17] Ministry of Ports, Shipping and Waterways Government of India Publication, “Amrit Kaal 2047”, 14 October 2023,