India plans 62 vessels with ₹51,383 crore shipping push in FY27

 India is set to add 62 vessels in FY 2026–27 with an investment of ₹51,383 crore, aiming to build an additional 2.85 million gross tonnage (GT) capacity as part of its push towards self-reliant shipping, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said.

The announcement was made during a high-level inter-ministerial review meeting, initially convened to assess the situation in the Strait of Hormuz, which shifted focus towards strengthening India’s maritime capabilities and building a future-ready shipping ecosystem.

The meeting, chaired by Sonowal, was attended by senior officials from the Ministry of Petroleum and Natural Gas, oil PSUs, Ministry of Chemicals and Fertilisers, Directorate General of Shipping, National Shipping Board and the Directorate General of Foreign Trade.

Speaking at the meeting, Sonowal said that shipping is being positioned at the core of India’s economic resilience and that the push towards Atmanirbhar shipping is a strategic necessity. He added that the government is advancing a roadmap to expand the country’s fleet capacity through significant investments.

Reviewing the global scenario and its impact on maritime trade routes, the Minister called for urgent expansion of India’s shipping capacity across segments, including container vessels, LPG carriers, crude carriers and green tugs, to strengthen resilience against external disruptions. He also reviewed cargo flows, vessel movements and operational preparedness across key maritime sectors.

The need to expand the container fleet, green tugs, LPG carriers, crude carriers, dredging vessels and tankers was highlighted to address future global challenges and sustain the country’s supply chains. The Minister also reviewed the status of a joint venture between Shipping Corporation of India and oil PSUs for the acquisition of 59 vessels.

Emphasising the need for a coordinated national effort, Sonowal called for strengthening the fleet, shipbuilding capacity, port infrastructure and the wider maritime ecosystem.

He directed all concerned departments to prepare a concise and actionable white paper outlining current gaps, clear targets and a time-bound roadmap across key pillars of the maritime sector. The exercise is to be carried out in coordination with the Ministries of Petroleum and Natural Gas, Chemicals and Fertilisers, and Commerce and Industry.

Sonowal said the document would form the basis of the next review at a broader inter-ministerial platform and called for focused, practical and outcome-oriented inputs.

The Minister also reiterated that the safety and security of Indian seafarers remains a priority, with agencies asked to maintain heightened vigilance in sensitive maritime zones.

The meeting concluded with a call for greater coordination and execution across ministries and stakeholders to strengthen India’s maritime capabilities and position the country as a globally competitive maritime nation.