Shipping Corporation of India urged to lead maritime growth

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal has called on the Shipping Corporation of India (SCI) to spearhead the nation’s efforts toward maritime and shipbuilding self-reliance. Speaking at a ceremony in Mumbai marking SCI’s 65th anniversary, Sonowal emphasized the company's role in achieving the Maritime Amrit Kaal Vision 2047, which aims to establish India as a top global shipbuilding and ship-owning nation.

The Minister highlighted a significant economic gap, noting that Indian-flagged vessels currently handle only about 5 percent of the country’s export cargo, while foreign liners manage 95 percent. This disparity results in an annual foreign exchange outflow of approximately $75 billion. Sonowal underscored the importance of domestic shipping capacity for energy and trade security, citing recent maritime disruptions in the Red Sea, Black Sea, and the Strait of Hormuz as evidence of the need for a stronger national fleet.

Founded in 1961, SCI has expanded from a small liner company into a diversified enterprise operating 58 vessels with a total deadweight tonnage of 5.26 million. Its operations include tankers, bulk and container shipping, LPG and LNG carriers, and offshore services.