Maritime Sector in India | UJA Market Report

Quick Facts: India's Maritime Sector

  • India is the 6th largest producer of chemicals in the world and the 3rd largest in Asia, contributing 7% to the country’s GDP
  • The chemical and petrochemical industry in India employs over 2 million people and produces more than 80,000 different chemicals and petrochemicals
  • About 70% of India’s chemical production is used within the country
  • India contributes to 2.5% of global chemical sales
  • On the global stage, India holds a strong position in the trade of chemicals, ranking 14th in exports and 8th in imports (excluding pharmaceuticals)
  • India has a significant global presence, exporting chemicals to more than 90 countries, especially in the areas of dyes, pharmaceuticals, and agrochemicals.

Government Schemes in the Maritime Sector

The Indian maritime sector plays a pivotal role in supporting the country’s trade and economic growth. To modernize infrastructure, enhance port connectivity, and foster sustainability, the government has introduced several key schemes aimed at strengthening India’s position as a global maritime hub and enhancing efficiency across various segments of the sector. Below are some of the major government initiatives:

Sagarmala Program

  • The Sagarmala Program is a flagship initiative by the Ministry of Ports, Shipping, and Waterways, aimed at port-led development across India.
  • The scheme leverages India’s 7,500 km coastline and 14,500 km of navigable waterways to develop port infrastructure, enhance coastal development, and improve connectivity.
  • It supports a wide range of projects, including coastal berths, road and rail connectivity, fish harbours, skill development programs, cruise terminals, and Ro-Pax ferry services.
  • Financial assistance is provided to State/UT Governments for the execution of these projects.
  • As of July 26, 2024, a total of 130 projects with a financial allocation of INR 37 billion have been sanctioned under the scheme.
Want to know more insights, check the link here- https://uja.in/blog/market-reports/maritime-sector-in-india/

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