Pratik Bijlani –
On September 23rd, The Shipping Corporation of India (SCI), in association with the Ministry of Ports, Shipping and Waterways (MoPSW), hosted a roadshow on “Financing the Future of Maritime India” at SCI in Mumbai. Serving as a prelude to India Maritime Week (IMW) 2025, scheduled from October 27–31 at the NESCO Exhibition Centre in Mumbai, the event brought together more than 200 delegates from government, finance, ports, and the maritime industry to deliberate on strategies for accelerating India’s maritime growth through robust financial mechanisms.
The roadshow was inaugurated in the presence of Mr Shyam Jagannathan, IAS, Director General of Shipping, as Chief Guest, and Mr Arun Sharma, Executive Chairman, Indian Register of Shipping (IRS), as Guest of Honour. Capt Binesh Kumar Tyagi, CMD of SCI, Mrs JP Irene Cynthia, IAS, MD of Kamarajar Port Limited, Mr Jose VJ, Director (Finance), Cochin Shipyard Limited, and several senior dignitaries added further gravitas to the event.
In his welcome address, Capt. Tyagi underlined the Prime Minister’s vision that “whether it is a chip or a ship, it must be Made in Bharat,” highlighting reforms that are freeing major ports from procedural hurdles while emphasizing financial innovations such as the Maritime Development Fund (MDF). He urged stakeholders to leverage initiatives like infrastructure status for large ships and Shipbuilding Financial Assistance Policy (SBFAP) 2.0 to realize the vision of Viksit Bharat.
Mr Jagannathan praised the maritime industry’s adaptability, stressing the need for low-cost financing to navigate geopolitical uncertainties while fostering innovation and sustainability. He noted that the Directorate General of Shipping is working on measures to create a robust framework that aligns with the Ministry’s objectives of positioning India as a global maritime powerhouse. Underscoring his vision, he said, “Opportunity favours the brave. India is positioning itself to become one of the foremost maritime nations, and each one of us must contribute to this growth story.”
Mr Sharma, in his address, emphasized the scale of investment required to support the green transition in shipping. Pointing to the transformative opportunities ahead, he remarked, “In the next 20 years, the maritime industry must rebuild its fleet. If this is done with radical technology, it will be the biggest technical transition since shipping moved from sail to steam.” He assured that IRClass is actively collaborating with stakeholders to help the industry achieve global sustainability standards while driving innovation and resilience.
The role of NAVIC Cell 7 was outlined by Mrs Cynthia, who highlighted its focus on vessel financing, insurance, leasing, and ownership to strengthen India’s maritime finance ecosystem. She stressed the importance of improving systems, standardizing processes, and enhancing competitiveness to achieve the Ministry’s long-term strategic vision.
The event featured an engaging panel discussion with leaders from SBI, IFSCA, North Standard, Care ESG Ratings, and SBI Mutual Fund, who explored financing strategies, green investments, and global partnerships critical for India’s maritime transformation. Delegates agreed on the importance of leveraging IFSCA’s regulatory framework to attract sustainable capital and promote scalable growth across ports, shipping, and waterways.
Looking ahead, India Maritime Week 2025 promises to bring together over 100 countries and more than one lakh delegates for high-level discussions, exhibitions, and sessions aimed at catalysing investment and innovation. A special highlight will be SCI’s session on “Charting Tomorrow: Building a Future-Ready Maritime Workforce,” which will focus on education, skill enhancement, and global certifications to prepare India’s maritime professionals for an era of innovation and sustainability.
The roadshow reinforced the momentum towards IMW 2025, setting the tone for transformative dialogue and action that will shape India’s maritime future.
Marex Media