Piyush Goyal highlights ports, shipping, and logistics as key to India's economic growth

Ports, shipping and the logistics sector are the lifelines that nourish the country’s economy. Trade like rivers flows freely and the shipping sector connects opportunities around the world with India. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his address as the Chief Guest at the 12th Biennial International Conference on Ports, Shipping & Logistics 2025 today in Mumbai.

Shri Goyal stated that ship building opportunities in the country are high and the Government is looking at ways to promote the sector. He urged the industry to suggest ways to make flagging of vessels in India attractive. “India has the advantage to allow cabotage of vessels and promote imports coming in Indian flagged vessels permitted within the WTO rules, but does not have enough flagged vessels to take advantage of the regulations”, he noted. The Minister urged the participants to suggest ways at the State and Central level to help companies come in flagged vessels in India.

Shri Goyal further stated that India has doubled its port capacity in the last decade and has significantly brought down the turnaround time of ships. However insisted that work remains towards strengthening the logistics ecosystem.

95% of India’s trade volume goes through ports and the 7,500 km coastline acts as a major enabler for the trade, he pointed out, asserting the immense potential the sector has to grow over the next few years. He also stressed the need for the logistics system to be more conducive to handle the current traffic at ports. “Unified Logistics Interface Platform (ULIP) has been introduced to aid logistics, but more ideas are needed to provide the whole ecosystem-linked logistics at ports”, he said. 

The Minister further called for a hybrid mode of training to meet the growing demand of seafarers in the sector. Container ownership, container manufacturing, faster speed of exports, ease of congestion are the areas the sector needs improvement, he stressed.  

India stands out as an oasis amidst the global trade turmoil, the Minister noted, hoping the country would continue to grow and contribute towards the greater good of the world. He pointed out the maritime trade and logistics sector as the backbone for a Viksit Bharat.