Mumbai is poised to emerge as a major shipbuilding hub, with new investments set to deliver “Made-in-Mumbai” passenger vessels and cruise ships ready to sail on domestic and international routes. As part of India’s broader maritime growth vision, Maharashtra is developing a comprehensive ecosystem for ship design, shipbuilding, repair, and manpower training along the Mumbai and Konkan coasts.
At the recently concluded India Global Maritime Summit 2025, the state secured Memoranda of Understanding (MoUs) worth ₹55,719 crore aimed at strengthening shipbuilding and port infrastructure. Key participants include Candela Technology, Chowgule & Company, and Synergy Shipbuilders, whose new ship construction and maintenance facilities will position Maharashtra ahead of other states in the maritime sector.
According to Nitesh Rane, Maharashtra’s Port Development and Maritime Minister, Candela’s facility will focus on passenger water transport vessels, while Echandia Marine will assemble advanced battery systems for green ships. IIT Bombay will establish a dedicated center for ship design and marine training, enhancing the state’s talent pool. Goa Shipyard Limited will also expand its presence in Maharashtra.
In parallel, Adani Ports and JSW Infrastructure have signed MoUs to further expand Dighi and Jaigad ports, while international players such as Boskalis, Lai Investment, and Wan Hai are exploring terminal development at Vadhvan, with proposed investments of around ₹70,000 crore.
A separate MoU between the Maharashtra government, Abu Dhabi Ports Group, and the Investment Resource & Presidential Office of Abu Dhabi envisions investments of up to USD 2 billion across shipbuilding, ship-breaking, water transport, port infrastructure, and sports management.
Nationally, India Maritime Week 2025 witnessed the signing of over 600 MoUs worth more than ₹12 lakh crore—an unprecedented leap toward India’s goal of becoming a global maritime powerhouse. These collaborations span port development, shipbuilding, sustainability, and industrial growth. Approximately 30% of the total investments are earmarked for port modernization, 20% for green initiatives, 20% for shipbuilding and shipping, another 20% for port-led industrialization, and 10% for trade and knowledge partnerships.
Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal highlighted a 41% increase in investment commitments over the previous summit, crediting Prime Minister Narendra Modi’s vision for transforming India into a leader in sustainable, port-led growth.
In line with these initiatives, the Shipping Corporation of India (SCI) announced an ambitious plan to expand its fleet to 216 vessels by 2047—adding 10 million gross tonnage (GT) with an investment of ₹1 lakh crore. Oil and gas PSUs have placed 59 new shipbuilding orders worth ₹47,800 crore, further reinforcing India’s self-reliance and generating employment along its coastline.
Supporting India’s transition to cleaner maritime logistics, the Green Tug Programme aims to deploy 100 eco-friendly tugs by 2040 with an investment of ₹12,000 crore. Meanwhile, the Dredging Corporation of India (DCI) will modernize its fleet with 11 new dredgers to enhance coastal infrastructure and operational efficiency.
Together, these initiatives mark a new era for India’s maritime industry—with Mumbai at the helm of the country’s shipbuilding renaissance and global ocean ambitions.
