Piyush Goyal: Shipbuilding, Indian-flagged vessels present strong opportunities at Bombay Chamber's Ports & Logistics Conference

VMPL
Bombay Chamber (Mumbai) [India], February 28: Shipbuilding offers tremendous opportunities in India and it's an area that private sector shipyards need to focus on. "There is very good business potential in ship-building and the Indian government is also looking at ways to improve the entire ecosystem," said Union Commerce and Industry Minister Piyush Goyal.
Goyal was speaking (via video conferencing) at the 12th Biennial International Conference on Ports, Shipping & Logistics 2025, organised by Bombay Chamber of Commerce and Industry in Mumbai on February 25, 2025.
Seeking inputs from industry stakeholders, Goyal said, making flagging of vessels in India more attractive is another area where the government would like assistance. "While we have the advantage to allow cabotage, I don't see many ships getting flagged in India. We can also promote more and more imports coming in on Indian flagged vessels that are permitted within the international trading or WTO trading rules. Sadly, we don't have enough Indian-flagged vessels to be able to do any of that," he said.
Goyal appealed to industry stakeholders to take up the responsibility and guide the government on what needs to be done at the Central or State level to help companies come in with flagged vessels in India. "I understand that financing, leasing and insurance of such vessels is being promoted through the GIFT City already. I wonder if a study has been done of the ecosystem and if it needs further liberalisation, improvisation or amendments, we are happy to look at that as well," he said.
Training and development of seafarers or merchant navy personnel hold significant potential for job creation in India and globally, said Goyal. "We'd like the industry to assist in designing and developing a hybrid (online and offline) ecosystem for on-the-job training to increase the number of seafarers in India. The shipping industry has a huge multiplier impact, which we haven't fully leveraged yet," he said. He added that container ownership and manufacturing in India, increasing export speeds, and easing port congestion are other crucial areas that need to be looked at as well.
The Indian Ports, Shipping and Logistics industry is a critical component of the country's economy, facilitating trade and commerce both domestically and internationally. Maritime transport remains the backbone of India's trade, with around 95% of the country's trading by volume and 70% by value conducted through this mode. India boasts a coastline of 7,516.6 kilometres, with 12 major and over 200 minor and intermediate ports.
While the sector continues to evolve, driven by significant infrastructure investments, policy reforms, and technological advancements there are several challenges as well. In this regard, the 12th Biennial International Conference on Ports, Shipping & Logistics 2025, organised by Bombay Chamber, attempted to discuss and brainstorm on a variety of topics including geopolitical trends, opportunities and challenges for logistics industry, rail connectivity and multimodal integration for sustainable logistics, driving efficiency through connectivity, future of shipbuilding, strengthening supply chain management, port security and cyber security, women in logistics and, potential of digitalisation among others.
Rajiv Jalota, Retd. IAS, former chairperson of the Mumbai Port Authority, introduced the conference theme: 'Sustainable Logistics for Viksit Bharat.' This theme underscored the industry's commitment to developing a sustainable and efficient logistics infrastructure that aligns with India's vision of becoming a developed nation. A strategy report was also unveiled. Jalota explained that the main objective of the conference was to find strategic solutions for improving the efficiency of 'end-to-end logistics' in India, with a focus on the customer. Discussions covered areas such as digitisation, connectivity, sustainable logistics, green initiatives, port security, and cyber security in Indian logistics.
Sharing insights from an industry survey, Jagannarayan Padmanabhan, practice head and senior director - Transport, Logistics and Mobility, CRISIL, spoke about a strong pipeline of maritime projects and new ports under development. Among challenges being faced by the industry, he pointed towards issues created by regional political parties, need for sustainable ports and the need for increasing the number of women being employed in the logistics sector.
Need of port connectivity, port lead industrialisation, warehousing and logistics parks were seen by the industry as enablers for ports. CRISIL recommended measures like use of digitalisation, policy support measures, skill development and sustainability as catalysts for the sector's growth.

In his keynote address, Amitabh Kant, India's G20 Sherpa and former chief executive officer, NITI Aayog, discussed opportunities in green shipping technologies, sustainable development and transportation. Kant highlighted about India being strategically located in the grassroots of international trade, promotion of the blue economy including the Sagarmala Programme. He stressed that government, industry and market players need to work together and unlock the potential of a bright economy.
Sanjay Swarup, chairman and managing director, CONCOR, talked about the role of Indian Railways in cargo shipment and dedicated freight corridors (DFCs). He said that currently 2,438 kilometres (between EDFC and WDFC) of railway line has been made operational and is dedicated to carrying freight trains. DFCs are designed to be high-capacity and high-speed, and are intended to reduce logistics costs and improve efficiency, he said.
Sharing his perspectives on 'Sustainable Global Trade: Leveraging Technology for Green Logistics Solutions', Satya Prasad Sahu, Senior Trade Facilitation Specialist at the World Bank, emphasised the critical importance of supply chain resilience.
Capt. B. K. Tyagi, Chairman and Managing Director of The Shipping Corporation of India, provided insights on the future of shipbuilding in India. He stressed the need to strengthen supply chain management through enhanced design capabilities, technological advancements, skilled labour, low-cost financing, and financial incentives. He also highlighted the importance of Just-In-Time (JIT) with lean management and developing local manufacturing units for major machinery and equipment in collaboration with international original equipment manufacturers (OEMs).
On the topic of women in logistics, Capt. Aakriti Barthwal, QHSE Superintendent, Synergy Navis Marine Pvt. Ltd., talked about making a successful career in the maritime industry while also addressing unique challenges faced by female seafarers.
The conference concluded with a presentation by a group of students from the Indian Institute of Management, Mumbai, who won the Business Case Study competition (Hull Cleaning Challenge). This competition was organised by the Bombay Chamber of Commerce & Industry in collaboration with industry and academia. GAC India served as the competition partner, while IIM, Mumbai participated as the academia partner.
The conference was supported by the Ministry of Ports, Shipping and Waterways. Gold partners included Mumbai Port Authority and Jawaharlal Nehru Port Authority. New India Assurance was the insurance partner, while Navio Shipping Pvt. Ltd. was an associate partner. CRISIL Intelligence served as the knowledge partner, with SOULFLOWER and Daily Shipping Times joining as the gifting and media partners, respectively.
Supporting organisations for the international conference included the Ministry of Ports, Shipping and Waterways, Maharashtra Industry, Trade and Investment Facilitation Cell (Maharashtra, India), Indian Ports Association, Inland Waterways Authority of India (IWAI), Shipping Corporation of India, CHEMEXCIL, SEEPZ, Women's International Shipping & Trading Association (WISTA), and Indian National Shipowners' Association.
The conference featured distinguished speakers such as S. Krishnan, IAS, Secretary, Ministry of Electronics & Information Technology (MeitY); Dnyaneshwar Bhalachandra Patil, IAS, Development Commissioner, Santa Cruz Exclusive Export Processing Zone (SEEPZ), Special Economic Zone, Mumbai; P.L. Haranadh, IRTS, Chairperson, Paradip Port Authority; Rajesh Menon, Associate Director, DPIIT, Ministry of Commerce and Industry; Hamdi Osman, Founder and CEO, SolitAir and Rampraveen Swaminathan, MD & CEO, Mahindra Logistics.
The event also saw strong industry participation, with 50% representation from leading companies like Hindustan Unilever Ltd (HUL) and Larsen & Toubro (L&T), among others.
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