India must own its trade, add 100 ships to merchant fleet: Shipping Minister Sarbananda Sonowal
The National Shipping Board has proposed a five-point roadmap to add 100 vessels to India's merchant fleet over the next five years to reduce reliance on foreign shipping lines. The initiative aims to cut the $75 billion annual freight cost paid to foreign entities and align with the Maritime Amrit Kaal Vision 2047.
Why it matters
Increasing domestic shipping capacity is a strategic move to enhance economic sovereignty and reduce trade costs in the global maritime market.
The National Shipping Board (NSB) has proposed a five-point roadmap to add 100 vessels to India’s merchant fleet over the next five years, with the move aimed at reducing the country’s dependence on foreign shipping lines for transporting critical cargo.
The roadmap — comprising fiscal reforms, assured cargo support, access to competitive financing, regulatory streamlining, and improved ease of doing business — was discussed at the inaugural Sagar Samvad event organised by the NSB on Monday (August 24, 2026). The event was themed, ‘Charting the Roadmap Towards Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047’.
Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal, who chaired the event, welcomed the roadmap and said the measures would help Indian shipowners participate in the country’s expanding maritime economy.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in