Prime Minister Narendra Modi today told the Maritime Leaders' Conclave that this is the right time to invest in India's shipping sector, saying the country is the 'steady lighthouse' that is needed amidst global turbulence.

"This is the right time to invest in India's shipping sector, where you can work and expand. The specialty of India is its vibrant democracy and reliability. When the global seas are rough, the world looks for a steady lighthouse and India can play the role of such a lighthouse very well. In between global tensions, trade disruptions and shifting supply chains, India is the symbol of strategic autonomy, peace and inclusive growth," he said while addressing the Maritime Leaders Conclave and the Global Maritime CEO Forum at India Maritime Week 2025, held at Mumbai's NESCO Exhibition Centre, in Goregaon East..

PM Modi said that India's ports are among the world's most efficient in the world.

On the occasion, he dedicated investment MoUs worth Rs 12 lakh crores and announced key initiatives for the shipping and shipbuilding sector.

Addressing the Maritime Leaders Conclave, PM Modi said, "The maritime sector has been driving India's growth over the last decade. It has transformed significantly, boosting trade and port infrastructure. Today, India's ports are counted among the most efficient in the developing world. In many aspects, their performance is even better."

Calling India's maritime sector moving forward with rapid speed and energy, Modi said, "The year 2025 has been a very important year for the maritime sector. In the year 2024-25, India's major ports have created a new record by handling the highest-ever cargo so far. Not only that, but also for the very first time, an Indian port has initiated a megawatt-scale indigenous green hydrogen facility, and Kandla Port has accomplished this achievement."

The PM highlighted that a major milestone has been achieved at Jawaharlal Nehru Port Authority (JNPA) with the commencement of operations at Bharat Mumbai Container Terminal (BMCT) Phase 2, which has doubled the terminal’s handling capacity, establishing the Jawaharlal Nehru Port Trust (JNPT) as the largest container port in India.

"The Bharat Mumbai Container Terminal Phase 2 has also commenced operations at JNPT, doubling the terminal's handling capacity and making it India's largest container port. This has been made possible by the largest foreign direct investment in India's port infrastructure," he said.

Modi further said that India's long-term vision is built on four strategic pillars, namely port-led development, shipping and shipbuilding, seamless logistics, as well as maritime skill-building, "which are aimed at positioning India among the world’s leading maritime powers".

The PM said significant achievements have been made in next-generation reforms in this sector and replacing colonial-era laws with modern ones.

"I express special gratitude to my colleagues in Singapore. Significant strides have been made to drive next-generation reforms in the maritime sector. Outdated colonial-era shipping laws, which had been in place for over a century, have been replaced with modern, forward-looking legislation tailored for the 21st century. These new laws strengthen the role of State Maritime Boards, prioritise safety and sustainability, and promote the integration of digital technologies into port management," Modi said.

The PM said that India's maritime sector is progressing with rapid speed and energy.

"The year 2025 has been very important for India's maritime sector. In 2024-25, India's major ports created a new record by handling the highest-ever cargo. Also, for the first time, an Indian port has initiated a megawatt-scale indigenous green hydrogen facility and Kandla Port has accomplished this," he said.

He further said, "The summit began in 2016 in Mumbai, It is a matter of great pride that today it has become a global event. The participation of more than 85 countries, shipping giants, CEOs, investors and innovators from across the world is in itself a very big message to the world."

PM Modi said that inauguration of projects related to the shipping sector and signing of MoUs worth crores of rupees show how much faith the world has in India's maritime capabilities, he added.