Sarbananda Sonowal holds pre-budget meeting with maritime stakeholders

New Delhi: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Monday held a pre-Budget meeting with various stakeholders to gather feedback and suggestions from experts and stakeholders from various sectors.

The discussions focused on identifying development opportunities, facing challenges and searching for innovative solutions, the minister said after the meeting.

“The government is focused on building a robust maritime ecosystem that supports economic growth and environmental sustainability. With projects like the Vadhavan Mega Port and Cruise India Mission, the ministry is poised to make India a global maritime hub,” Sonowal said.

The Minister noted that tax and GST policy reforms, support for shipbuilding and green initiatives underscore the Ministry’s commitment to economic growth and environmental sustainability, enhancing India’s competitiveness in the maritime sector.

“Through this interaction, the Ministry of Ports, Shipping and Waterways has gained an insightful perspective that will help shape a more inclusive and growth-oriented budget,” the minister said.

He added that the government was committed to developing sustainable, world-class maritime and inland waterway infrastructure to increase EXIM trade and support economic growth.

The Ministry of Ports, Shipping and Waterways has been spearheading a number of strategic initiatives to strengthen the Indian maritime sector with an emphasis on sustainable and world-class infrastructure.

These include the Sagarmala Scheme, with projects worth Rs 5,100 crore, and the Financial Assistance Policy for Shipbuilding, supporting shipyards.

The Harit Nauka initiative will promote the transportation of clean fuel through inland waterways, while the Maritime Development Fund (MDF) and Ship Owning and Leasing Entity (SOLE) will support financing to increase Indian ship acquisition and ownership.

The meeting was actively attended by over 150 stakeholders (including online) from major ports, shipping sector, Inland Waterways Authority of India (IWAI), Directorate General of Shipping (DG Shipping) and representatives of FICCI, CII, National Seamen’s Union of India, Assocham, Shipbuilders’ Association of India , Maersk, DP World, JM Baxi, TCI Seaways, MSC etc.