India's ports to attract Rs 80 lakh crore investment, says Sarbananda Sonowal

"Our ports have a very important role to play in making India a $30 trillion economy 2047," said Sonowal.

Investments worth Rs 80 lakh crore would be made in the country’s ports sector, minister for ports, shipping and waterways Sarbananda Sonowal said on October 15.

Memorandums of understanding (MoUs) worth Rs 10 lakh crore would be signed during the Maritime Week, be held later this month in Mumbai,  the minister said at a New Mangalore Port Authority’s (NMPA) 50-year celebration event in New Delhi.

"Our ports have a very important role to play in making India a $30-trillion economy 2047," he said. In the last 11 years, India’s maritime sector has witnessed a transformational growth and the NMPA was a shining example of it.

"NMPA through meticulous planning, modern infra creation, advance mechanisation and digitisation of operation, coupled with green initiative, has created a legacy of excellence over the past 50 years," said Sonowal.

The port of has grown from the level of handing a few thousand tonnes of cargo to 46.01 million tonnes (MT) tonne handle during FY25, the minister said. By 2047, its capacity may grow to 100 MT.

The New Mangalore port, the only major port in Karnataka, is located between Cochin and Goa ports. It has 15 fully operational berths, handling containers, coal and other cargo.

The NMPA, which operates the port, reported a net profit of Rs 646 crore in FY25, up from Rs 570 crore in FY24.

"This port connects Karnataka to more than 100 countries in the world. And it generates its entire energy from solar power. In the next 20 years, the NMP will triple its handling capacity," R Lakshmanan, joint secretary, port, shipping and waterways ministry, said at the event.

The Centre has granted infrastructure status for ships, opening up cheaper, long-term access to capital which is likely to spur India’s shipping tonnage growth. As of today, close to 1,500 MT of cargo is handled by India’s ports.