National Maritime Day commemorates the historic voyage of 'S.S. Loyalty', the first Indian-owned steamship, which sailed from Mumbai to London on April 5, 1919.
India’s Maritime Sector
- India has 7,500-kilometre coastline, which anchors 12 major ports and over 200 minor ports, positioning it as the 16th largest maritime nation.
- India is third-largest in world in terms of ship recycling by tonnage.
- India’s ranking in World Bank’s International Shipment Logistics Performance Index (LPI) improved from 44 in 2018 to 22 in 2023.
- From 2014-15 to 2023-24, major ports boosted their cargo-handling capacity by 87%, with Paradip port becoming India’s largest major port.
Challenges to Maritime Sector
- Inefficient Port Infrastructure: Port connectivity, especially with inland transport, remains underdeveloped.
- Environmental Concerns: Coastal ecosystem degradation and the environmental impact of large port projects pose sustainability challenges.
- Geopolitical Risks: Changing geopolitical dynamics and threats from non-state actors such as attacks on commercial vessels.
Initiatives for boosting Maritime Sector
- Policies: 100% FDI under the automatic route for port and harbour projects and 10-year tax holiday to enterprises engaged in port development.
- Infrastructure Development: Approval for a major port at Vadhavan (Maharashtra) and outlining investment of US$ 82 billion in port infrastructure by 2035.
- Schemes: Sagarmala Programme, Maritime India Vision 2030, Green Tug Transition Programme etc.