Union Minister for New and Renewable Energy Pralhad Joshi said that India’s maritime sector is witnessing rapid growth and that by 2030, the country will emerge as one of the world’s top 10 shipbuilding nations.

Speaking at the Golden Jubilee celebrations of the New Mangalore Port Authority on Thursday, Joshi expressed confidence that under Prime Minister Narendra Modi’s vision, India will rank among the top five global economies by 2047.

“With the leadership and support of Prime Minister Narendra Modi, India’s shipbuilding capacity has seen remarkable improvement. Alongside service activities, our production capabilities have also grown significantly,” Joshi said.

He emphasised that the port sector plays a key role in boosting India’s exports. To strengthen export activities and enhance trade efficiency, the Central Government has been prioritising the reduction of logistics costs, he said.

The New Mangalore Port on India’s west coast is one of Karnataka’s most important ports and ranks as the seventh-largest in the country. “It has made a unique contribution to India’s economic development, maritime trade, and the industrial progress of southern India,” Joshi noted.

India has achieved unprecedented progress in maritime trade through port modernisation, improved coastal connectivity, and the attraction of global investments.

“These efforts have transformed India into a powerful hub in the global maritime economy,” he said.

“Under the leadership of Prime Minister Modi, India has emerged as the world’s fourth-largest economy and is poised to soon become the third-largest. Competing with major global powers like the United States and China, India is making significant strides in boosting manufacturing and exports,” Joshi stated.

Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal, who presided over the event, said that the New Mangalore Port Authority (NMPA) is expected to handle 100 million tonnes of cargo within the next 22 years.

“It is Prime Minister Narendra Modi’s vision that by 2047, Indian ports should handle 10,000 million metric tonnes of cargo. We are confident of achieving this target under his leadership,” Sonowal said.

He added that NMPA has achieved the status of being a 100 per cent solar-powered and green port.

“Several advanced technological initiatives have been implemented, including robotic firefighting systems and drone surveillance of the port,” he noted.