GIFT City Emerges as Epicentre of Maritime Finance: Sonowal Reaffirms India’s Ambition to Become Global Shipping Hub
SPECIAL CORRESPONDENT
GANDHINAGAR: Positioning India as an international powerhouse for vessel ownership, leasing, and maritime finance, Union Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal addressed the India Ship Leasing and Financing Summit 2026 held at the Gujarat International Finance Tec-City (GIFT City).
The high-level summit brought together key policymakers, financiers, ship owners, lessors, and global industry stakeholders to deliberate on charting a competitive maritime financial ecosystem from Indian shores.
Addressing the gathering, Shri Sonowal underlined that GIFT City’s International Financial Services Centre (IFSC) has rapidly evolved into an enabling anchor for India’s global maritime ambitions. He noted that the initiative aligns with the Union Government’s broader roadmap under the Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047, which seek to expand the nation’s tonnage, fortify port capacity, and establish India among the top shipbuilding nations worldwide. The Minister highlighted ongoing structural reforms, competitive regulatory regimes, and planned financial instruments aimed at encouraging Indian and international companies to acquire, finance, and lease vessels directly out of GIFT IFSC.
Underscoring the host state’s role, Shri Hareet Shukla, IAS, Principal Secretary of the Ports & Transport Department, Government of Gujarat, highlighted the immense strategic and fiscal opportunities available for building a comprehensive maritime ecosystem at GIFT City. Shukla emphasized that with modern plug-and-play infrastructure, globally benchmarked regulations, and specialized tax frameworks, GIFT City is uniquely primed to host ship leasing entities, dispute resolution forums, maritime insurance, and ancillary services.
Further presenting Gujarat’s coastal success story, Dr. Ajay Kumar, IAS, Vice Chairman & CEO of the Gujarat Maritime Board (GMB), walked delegates through the state’s transformative maritime growth journey. He outlined how Gujarat—handling a substantial portion of the nation’s port traffic—is pivoting toward higher-value segments of the maritime supply chain. Detailing future prospects, Dr. Kumar spotlighted upcoming port modernizations, green port initiatives, and expanded coastal logistics infrastructure that reinforce Gujarat’s status as a gateway for global maritime commerce.
The summit concluded on an optimistic note, with stakeholders affirming that the synergy between central policy backing, Gujarat’s industrial coastline, and GIFT City’s offshore financial framework will drive long-term capital inflows into the Indian shipping industry.
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