Ship turnaround time at Indian ports now less than 1 day: Minister

New Delhi, July 25 The Indian ports have significantly improved operational efficiency, with the average turnaround time for ships reduced from 4 days to less than 1 day, outperforming many advanced nations, according to Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways.

Container capacity at major ports has grown by over 70 per cent, and cargo volumes through coastal and inland waterways have multiplied, he said an an event here.

“With 100 per cent FDI permitted in shipping under the automatic route, simplified customs clearance and the strategic advantage of GIFT City IFSC, India now offers one of the most attractive investment ecosystems in the maritime domain. Our goal is clear to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure,” the minister told the gathering at the ‘Maritime Financing Summit 2025.’

Minister of State Shantanu Thakur said, “India’s maritime ambitions cannot be fulfilled without reliable, long-term financial foundations”.

“We are committed to ensuring that enabling policies, business-friendly reforms and international partnerships create an environment where Indian shipping can grow and lead. Our coastline is a gateway to opportunity, and through shared vision and effort, India will emerge as a global maritime leader,” Thakur added.

Another key announcement was the proposed Maritime Development Fund (MDF), a dedicated blended finance vehicle aimed at lowering capital costs and attracting long-term investment into shipyards, coastal infrastructure and inland waterways. The MDF has been developed through wide-ranging consultations with over 100 stakeholders, including global investors, shipowners, insurance companies and financial institutions.

Policy measures such as recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage and provide a long term visibility on the financial incentives available in the sector and enabling ship leasing through GIFT City IFSC were discussed as transformative steps to enhance India’s global competitiveness in the maritime and shipbuilding sectors.

It was highlighted that policy initiatives such as the Merchant Shipping Bill and the Coastal Shipping Bill are being pursued to support Indian-flagged tonnage. Parliament passed Bills of Lading Bill 2025 which aims to simplify legal framework for shipping documents.

“Capital support for greenfield capacity expansion involving the creation of new shipbuilding clusters and brownfield expansion to enhance existing shipyards’ capacity through a coordinated approach between the Centre and States, is envisioned,” said the ministry.

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