Why in the News?
Sagarmala Programme has achieved 118% growth in coastal shipping over the last decade, reducing logistics costs and emissions.
About Sagarmala Programme
- Ministry: Launched in 2015 by Ministry of Ports, Shipping, and Waterways (MoPSW).
- Aim: To accelerate economic development in the country by harnessing the potential of India's 11,098km long coastline and 14,500 km of potentially navigable waterways.
- Key Objective:
- Funding Structure: Public-Private Partnership, Internal & Extra Budgetary Resources by MoPSW, Grant-in-Aid for projects with high social impact and Equity through Special Purpose Vehicles (SPVs).
- Sagarmala 2.0: Launched in 2025 with Focus Areas including Shipbuilding, repair, breaking, and recycling and port modernization.
- Reduce logistics cost for Export-Import (EXIM) and domestic trade with minimal infrastructure investment,
- Enhanced domestic waterways (inland and coastal) in the multi-modal transport,
- Create jobs and develop skills in ports and maritime sector.
- Institutional Framework for Implementing Sagarmala Programme:
- Apex body: National Sagarmala Apex Committee (NSAC) Chaired by Minister of Shipping for policy direction and oversight of the Programme.
- Sagarmala Coordination and Steering Committee (SCSC): Under chairmanship of Cabinet Secretary to provide coordination between ministries, state governments and agencies to implement the projects.
- State Sagarmala Committee: Chaired by Chief Minister / Minister in Charge of Ports for Coordinating and facilitating Sagarmala related projects and take up matters on priority as decided in NSAC.
- State Maritime Boards/State Port Departments: They shall service the State Sagarmala Committee and also be, inter alia, responsible for coordination and implementation.
- Sagarmala Development Company Limited: It is set up under Companies Act, 2013 to assist the State level/zone level Special Purpose Vehicles.
- It is now renamed as Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector.
Various initiatives taken under Sagarmala Programme
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Conclusion
Sagarmala 2.0 will position India as a hub for maritime innovation and sustainability thereby steering towards a globally competitive maritime ecosystem that fuels economic growth, job creation, and Blue Economy.
