India must look to the sea if it wants to grow tenfold economically and sustainably
India today stands proudly as a $4 trillion economy — a remarkable milestone achieved through decades of reform, enterprise, and resilience. Yet, as the nation sets its sights on the next economic horizon, the question before us is not just about growth, but about the foundation on which such growth can be sustainably built. One answer lies in a direction often overlooked in public discourse but deeply etched in our geography and history — the sea.
India is a maritime nation by design, but not yet by policy or economic strength. Bounded by a 7,500-kilometre coastline and blessed with access to major global shipping routes, India possesses an enviable geostrategic position. Its Exclusive Economic Zone — among the largest in the world — holds untapped potential in marine resources, renewable energy, and offshore development. And yet, the maritime sector today contributes only around 4–5% to the national GDP. This is a fraction of what is possible — and necessary — if India aims to grow its economy tenfold to $40 trillion over the next few decades.
Maritime power has historically underpinned the rise of global economic giants. The United Kingdom, in its imperial heyday, built an empire on maritime control. Japan and South Korea transformed from war-ravaged nations into technological powerhouses, primarily driven by shipbuilding and maritime trade. China’s maritime strategy today — from the Belt and Road Initiative to its massive port and logistics network — signals an unambiguous realization that the ocean is the new frontier of power.
India must now make a similar, bold turn towards maritime thinking.
Our dependence on the sea is already considerable. Over 95% of India’s trade by volume and about 70% by value flows through maritime channels. Yet, India owns less than 1.2% of the world’s shipping tonnage, and its shipbuilding capacity is minuscule compared to its Asian peers. Our ports, while improving, are still not at par with the world’s top-performing transshipment hubs. The coastal economy, ranging from fisheries to tourism, remains informal and largely undercapitalized.
What we need is a strategic, long-term shift — a whole-of-government approach that recognises maritime development not as a subset of infrastructure or commerce, but as a core national mission. This calls for the establishment of a National Maritime Economic Strategy 2050, anchored by robust institutions, dedicated financial instruments, and visionary public-private collaboration.
India must invest in building one of the world’s largest commercial shipping fleets — incentivizing Indian ship ownership, making ship financing accessible, and encouraging global maritime businesses to domicile operations in India. Shipbuilding and ship repair need to be scaled up, not merely as industrial activities but as national employment engines. Coastal and inland waterways, which have long been neglected in favour of road transport, should be revitalized as economic arteries that reduce logistics costs and improve regional equity.
The blue economy — encompassing sectors such as marine biotechnology, ocean energy, aquaculture, and seabed exploration — offers another layer of potential. With scientific investment, sustainable policies, and regulatory clarity, India can emerge as a global leader in marine innovation and environmental stewardship.
This transformation must also be green. As climate change intensifies and ocean health declines, India must lead in sustainable maritime practices — adopting zero-emission shipping technologies, building climate-resilient ports, and protecting marine biodiversity. A $40 trillion economy cannot be achieved at the cost of ecological collapse.
Finally, our maritime vision must extend beyond our borders. India must take the lead in developing regional maritime corridors, such as the India-Middle East-Europe Economic Corridor (IMEC), and in strengthening institutions like the BIMSTEC and the Indian Ocean Rim Association (IORA). These platforms are not only geopolitical necessities but economic opportunities that can position India at the heart of the 21st-century maritime order.
The path from $4 trillion to $40 trillion will not be easy, but it is not unreachable. It will require India to embrace a future where the sea is no longer peripheral, but central to our economic identity. In doing so, we will not only secure national prosperity but also reclaim our rightful place as a maritime civilization — confident, capable, and connected to the world.
The tide is turning. The opportunity is vast. It is time to sail ahead — with ambition, with vision, and with maritime prowess.
Marex Media