ENA Sectors 2025-07-25 14:05:28 <p><span style="font-size:14px"><strong>New Delhi, Jul 25 (KNN) </strong>Indian ports have achieved substantial improvements in operational performance, with ship turnaround times decreasing from four days to less than one day, surpassing efficiency levels of several developed nations. </span></p> <p><span style="font-size:14px">Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal announced these developments during the Maritime Financing Summit 2025.</span></p> <p><span style="font-size:14px">The maritime infrastructure has experienced considerable expansion, with container capacity at major ports increasing by more than 70 percent. </span></p> <p><span style="font-size:14px">Cargo volumes transported through coastal and inland waterways have also demonstrated significant growth during this period.</span></p> <p><span style="font-size:14px">Sonowal emphasised India's enhanced investment attractiveness in the maritime sector, citing the allowance of 100 percent foreign direct investment in shipping through automatic approval routes. </span></p> <p><span style="font-size:14px">The simplified customs clearance processes and strategic advantages offered by GIFT City International Financial Services Centre contribute to creating a competitive investment environment. </span></p> <p><span style="font-size:14px">The minister outlined the government's objective to establish India as a comprehensive global maritime hub encompassing trade, finance, shipbuilding, and environmentally sustainable maritime infrastructure.</span></p> <p><span style="font-size:14px">Minister of State Shantanu Thakur highlighted the critical importance of establishing robust financial foundations to support India's maritime expansion goals. </span></p> <p><span style="font-size:14px">He emphasised the government's commitment to implementing supportive policies, business-oriented reforms, and international partnerships to foster growth in the Indian shipping sector. </span></p> <p><span style="font-size:14px">Thakur described the nation's coastline as a strategic gateway for economic opportunities and expressed confidence in India's potential to achieve global maritime leadership through collaborative efforts.</span></p> <p><span style="font-size:14px">A significant policy initiative announced at the summit was the proposed Maritime Development Fund, a specialised blended finance mechanism designed to reduce capital costs and encourage long-term investment in shipyards, coastal infrastructure, and inland waterways. </span></p> <p><span style="font-size:14px">The fund's development involved extensive consultations with more than 100 stakeholders, including international investors, ship operators, insurance providers, and financial institutions.</span></p> <p><span style="font-size:14px">The summit addressed several transformative policy measures aimed at enhancing India's competitiveness in maritime and shipbuilding sectors. </span></p> <p><span style="font-size:14px">These include recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme to address cost disadvantages while providing long-term financial incentive visibility, and facilitating ship leasing operations through GIFT City International Financial Services Centre.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42941 https://knnindia.co.in/news/newsdetails/sectors/india-cuts-port-turnaround-times-below-one-day-unveils-maritime-development-fund 2025-07-25 14:05:28 knnindia.co.in