Mon Mar 24 17:58:25 UTC 2025: ## India Unveils Ambitious Maritime Plans at Singapore Maritime Week

**Singapore, March 25, 2025** – Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal announced ambitious plans to bolster India’s maritime sector at the Singapore Maritime Week (SMW) on Monday. These plans include developing key economic corridors, investing heavily in infrastructure, and embracing digitalization to enhance global competitiveness.

Sonowal highlighted the development of the India-Middle East-Europe Economic Corridor (IMEC), Eastern Maritime Corridor, and North-South Transport Corridor to secure trade routes and address supply chain vulnerabilities exacerbated by recent global events, such as attacks on key waterways by Houthi rebels in Yemen. He also revealed discussions with Singapore on establishing a joint green and digital corridor.

India aims to significantly increase its global cargo share from 6% to 15% by 2047, supported by a dedicated Maritime Development Fund. A $20 billion investment is planned to improve logistics, port connectivity, and trade facilitation, and the nation targets a top-five global shipbuilding rank by 2047 through policy reforms and infrastructure upgrades. The GIFT City is being positioned as a global hub for maritime finance and ship leasing.

During the five-day SMW, Sonowal held bilateral meetings with high-ranking officials from Singapore, including Prime Minister Lee Hsien Loong, as well as counterparts from France, The Netherlands, Norway, and Portugal. He also met with several industry leaders. The minister emphasized India’s commitment to a green and inclusive maritime future, partnering with nations like the UAE and Singapore to create virtual trade corridors for streamlined cargo movement. Furthermore, he detailed initiatives to streamline port services, reduce transaction times, and leverage real-time data for improved efficiency. The minister stressed the importance of digitalization and future-ready shipping in navigating the challenges and opportunities presented by climate change, geopolitics, and technological advancements within the maritime sector.

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