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India witnessing rapid surge in foreign investments: Secretary of Ministry of Ports
Jul-10-2025

Highlighting the strong macroeconomic fundamentals, T.K. Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways, Government of India, has said that India has become the fourth-largest economy, having surpassed $4 trillion and is witnessing a rapid surge in foreign investments.

Secretary further said that with 100% FDI permitted under the automatic route in shipping and shipbuilding, and fiscal incentives offered by the International Financial Services Centre (IFSC) at GIFT City, India presents a compelling case for global maritime investors. Key benefits include a 10-year tax holiday, zero GST on ship imports, and no withholding tax on maritime transactions.

He also laid out India’s strategic priorities in the maritime domain and underlined the nation’s intent to emerge as a global maritime powerhouse. Besides, he said that ‘Under the visionary leadership of Prime Minister Narendra Modi, India is scripting a new era of maritime resurgence - anchored in sustainability, digital transformation, and global partnerships.

The Secretary outlined India’s efforts to modernise its port ecosystem through Public-Private Partnerships, with the current cargo handling capacity of 2,760 MTPA targeted to expand to around 3,500 MTPA by 2030 and around 10,000 MTPA by 2047. He underlined that India’s ports are not just trade gateways, but drivers of clean energy transitions, supporting offshore wind, green hydrogen, and low-carbon logistics.


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