Politics · India Bureau
India aims to lead global shipping through domestic shipbuilding: Sonowal
India is shifting from merely owning ships to building them domestically, with the Shipping Corporation of India playing a central role in the nation's ambition to become a top maritime power, Union Shipping Minister Sarbananda Sonowal said Friday.
LSN India ·
Addressing the 65th anniversary celebrations of SCI at Mumbai Port, Sonowal emphasized the country's determination to develop self-reliant and globally competitive shipbuilding and maritime capacity. The minister called on the Navratna public sector undertaking to lead India's drive toward greater domestic maritime strength, moving beyond its traditional role as a ship operator to support the nation's broader shipping ambitions.
SCI, founded in 1961 with just 19 vessels, has evolved into a diversified maritime enterprise operating 58 vessels with a combined deadweight tonnage of 5.26 million. The company's growth reflects India's expanding presence in global shipping over six decades.
Sonowal also highlighted SCI's financial performance, noting the company expects its Profit After Tax to exceed Rs 2,000 crore in the current fiscal year, up significantly from Rs 1,352.92 crore on a standalone basis in the year ended March 2026. The improved financial trajectory underscores the company's operational efficiency and strategic positioning within India's maritime sector as the nation pursues its goal of becoming a leading global shipping hub.