Maharashtra to roll out investor-friendly maritime policy, eyes ₹26,500-crore shipyard investment

Maharashtra is stepping up its pitch for a larger share of India's shipbuilding and port investment boom, promising investors single-window clearances, faster approvals and assistance with land acquisition and environmental clearances. The state will shortly unveil a maritime development policy that it says will be the most investor-friendly in the country.

Nitesh Narayan Rane, Maharashtra's Minister of Fisheries and Ports Development, said the government would offer investors “red carpet treatment” as it competes with other coastal states for maritime investments. Speaking at the inaugural session of the FICCI Maritime India Conference & Expo 2026, he cited a tripartite agreement signed last month between the state government, the Centre and Mazagon Dock Shipbuilders for a ₹26,500-crore shipyard project expected to generate around 50,000 jobs.

MoU with by Maharashtra at India Maritime Summit

Rane said all memoranda of understanding signed by Maharashtra at last year's India Maritime Summit had translated into investments. The state also issued its shipbuilding, ship repair, and shipbreaking policy within the first 100 days of the government's tenure. It will help developers secure environmental clearances and acquire land, two major hurdles for the industry.

Vijay Sankar, President-Elect of FICCI and Chairman of Sanmar Group, said India's major ports handled a record 915 million tonnes of cargo in FY26, registering 7% growth. He described the Centre's ₹70,000-crore maritime and shipbuilding package as a significant opportunity for states. “India’s maritime transformation is not simply an infrastructure story. It is a story of economic competitiveness, strategic capability and national ambition,” Sankar said.

The Netherlands, partner country for the conference, called for commercially viable projects under the India-Netherlands Green and Digital Sea Corridor. Thierry Van Helden, Consul and Deputy Head of Mission at the Netherlands Consulate General in Mumbai, said the focus must be on “turning that ambition into projects that make commercial sense”. A dedicated Dutch shipbuilding delegation will visit India in February 2027.

Exploring India's vessel demand, skilled labour

Dhruv Kotak, Chair of the FICCI Committee on Ports & Shipping and Managing Director of JM Baxi, urged global shipbuilders, component manufacturers, and original equipment manufacturers to explore India, citing vessel demand, skilled labour, and supportive policies. He said JM Baxi was investing across the segments it was promoting.

Government officials highlighted further investment opportunities. S.I. Abul Kalam Azad, Nautical Adviser at the Directorate General of Maritime Administration, said ships could now be registered within 24 hours, a timeline guaranteed by law. Binesh Tyagi, Chairman and Managing Director of the Shipping Corporation of India, said aggregated demand for oil and gas tankers and container vessels was providing shipyards with order visibility.

FICCI also released four reports with PwC, Kearney, EY, and Crisil Intelligence, covering future-ready ports, hinterland connectivity, shipbuilding and ship repair, and domestic container manufacturing.

The FICCI-Crisil report, Domestic Container Manufacturing in India, estimates that Indian manufacturers face a cost disadvantage of $650-800 per TEU against Chinese producers, with Corten steel accounting for nearly half the gap. The findings come days after the Cabinet approved the ₹10,000-crore Container Manufacturing Promotion Scheme, targeting annual capacity of 7.5 lakh TEUs. China accounts for over 95% of global container production.

The report recommends that India target 8-10% of global manufacturing capacity, or 4.8-6 lakh TEUs annually, within five years. It suggests a national manufacturing mission, competitive access to container-grade steel, port-linked clusters, testing facilities, and assured procurement commitments from shipping lines and leasing companies.

A separate FICCI-Kearney report, India's Maritime Agenda for 2030, says port expansion alone will not sustain maritime growth without better inland connectivity, logistics coordination and shipping services. Cargo at major and non-major ports rose 38% between FY18 and FY26 to 1,668 million tonnes while capacity increased 22% to 2.8 billion tonnes annually. Utilisation reached 59%, and average vessel turnaround time at major ports fell 18% to around 49 hours. JNPA, Pipavav and Mundra feature among the world's top 30 ports in the World Bank's Container Port Performance Index 2025.