Coastal growth & blue economy priority for 25 years: PM Modi

Mumbai: India will prioritise the blue economy and sustainable coastal development over the next 25 years, Prime Minister Narendra Modi said on Thursday. Commenting on the nation's role "when the global seas are rough," he said the world looks for a steady lighthouse - and India is well poised to play that role.

Addressing the Maritime Leaders Conclave at the India Maritime Week 2025, Modi said reduced turnaround time and container dwell time have made Indian ports more attractive for global shipping lines. "One-fourth of the 21st century is over, and the coming 25 years are even more important," the Prime Minister said while outlining India's focus on the blue economy, green logistics, port connectivity, coastal industrial clusters, and shipbuilding for the next quarter of this century.

Highlighting the Centre's plans to boost domestic shipbuilding and restore India's lost glory in the sector, he said large ships have been accorded infrastructure status, easing the availability of funds for the industry. "These policy decisions will open up new alternatives of financing for shipbuilders," Modi said, adding that this will lower interest costs and improve credit availability.

On global tensions, he said India stands as a symbol of strategic autonomy, peace, and inclusive growth amid trade disruptions and shifting supply chains. "India wants to strengthen supply chain resilience at the global level," the Prime Minister said.

Highlighting the performance of India's ports, he said they are now counted among the most efficient in the developing world - "and in many cases, are outperforming ports in the developed world." Modi added that the average container dwell time in India has reduced to less than three days, which is better than in several developed nations. He also highlighted that the average vessel turnaround time has dropped from ninety-six hours to just forty-eight hours.