India plans to add 62 vessels in the financial year 2026-27, backed by an investment of ₹51,383 crore, to expand its shipping capacity.
The plan is expected to add 2.85 million gross tonnage (GT) capacity.
Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said this on 29 April during a high-level inter-ministerial review meeting, where officials also assessed the Strait of Hormuz situation and its implications for shipping and supply chains.
Focus On Fleet Expansion
The expansion will cover key vessel categories, including container vessels, LPG carriers, crude carriers, dredging vessels and green tugs.
Officials reviewed cargo flows, vessel movements and operational readiness across segments, and emphasised the need to strengthen domestic shipping capacity.
The meeting also reviewed the status of a joint venture between Shipping Corporation of India and oil public sector undertakings to acquire 59 vessels.
White Paper On Maritime Sector
The minister directed departments to prepare a white paper outlining existing gaps, targets and a time-bound roadmap for the maritime sector.
The exercise will be carried out in coordination with the ministries of Petroleum and Natural Gas, Chemicals and Fertilisers, and Commerce and Industry.
The white paper will form the basis for the next inter-ministerial review.
Review Amid Global Developments
The discussions took place in the context of the Strait of Hormuz situation and its impact on maritime trade.
The government also reviewed shipbuilding capacity, port infrastructure and maritime preparedness.
Authorities have been directed to maintain vigilance to ensure the safety of Indian seafarers in sensitive maritime zones.
