India to add 62 vessels by FY27 with Rs 51,383 crore investment for self-reliance

India is significantly boosting its shipping capabilities, planning to add 62 new vessels by FY 2026-27 with a Rs 51,383 crore investment. Union Minister Sarbananda Sonowal announced this initiative to achieve self-reliance and strengthen national shipping. The expanded fleet will include container vessels, LPG and crude carriers, and green tugs, aiming to enhance resilience against global disruptions and ensure stable supply chains.

India is embarking on an ambitious plan to significantly expand its shipping fleet, aiming for greater self-reliance and robust maritime capabilities. Union Minister Sarbananda Sonowal announced that the country intends to add 62 new vessels by the fiscal year 2026-27, supported by a substantial investment of Rs 51,383 crore. This strategic move is designed to fortify India's position in global shipping and safeguard its supply chains against potential disruptions. A high-level meeting underscored the urgency and importance of this expansion, which will encompass a diverse range of vessel types. The planned additions include modern container vessels, essential for international trade, as well as LPG and crude carriers, crucial for energy security. Furthermore, the fleet will incorporate green tugs, indicating a commitment to environmentally sustainable maritime operations. This diversified approach ensures that India's shipping infrastructure can cater to various economic needs. The overarching objective is to enhance India's maritime resilience, reducing dependency on foreign fleets and ensuring the uninterrupted flow of goods. By developing a stronger indigenous shipping sector, India aims to mitigate the impact of global supply chain vulnerabilities and economic uncertainties. This investment not only targets quantitative growth but also qualitative improvements, embracing modern and eco-friendly technologies to build a future-ready shipping industry. The initiative reflects a broader national agenda to foster self-sufficiency across critical economic sectors.