Latest news with #MoPSW
India Gazette
2 days ago
- Business
- India Gazette
Union Minister Sarbananda Sonowal launches key tech initiatives to boost efficiency, productivity in major maritime digital push
New Delhi [India], June 26 (ANI): The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, launched multiple tech initiatives to boost efficiency and productivity in a major maritime digital push here on Thursday, an official statement said. The launch of SAGAR SETU platform as well as MoPSW's MoU with the Centre for Development of Advanced Computing (CDAC) to develop & establish Digital Centre of Excellence (DCoE) are set to make significant strides in digital transformation as well as sustainable infrastructure development. MoPSW and C-DAC signed an MoU to establish a Digital Centre of Excellence (DCoE) for the maritime sector. This landmark initiative, announced in New Delhi on 26th June 2025, aims to accelerate digital transformation in India's maritime industry. The DCoE will provide advanced IT solutions, foster innovation, and guide the modernisation of port operations and shipping logistics through emerging technologies like AI, IoT, and Blockchain. Supporting national maritime objectives, the Centre will also prioritise green and sustainable operations, aligning with Maritime India Vision 2030 and Amrit Kaal Vision 2047. The Ministry of Ports, Shipping, and Waterways proudly launched the SAGAR SETU platform, marking a new era in India's logistics and maritime ecosystem. The Go-Live of this digital initiative, inaugurated on 26th June 2025 by Union Minister Sarbananda Sonowal, aims to enhance operational efficiency, bring in productivity and ease of doing business (EODB). Aligned with the PM Gati Shakti National Master Plan, SAGAR SETU integrates multiple service providers to offer seamless EXIM-related services. The platform is designed to significantly reduce processing times for vessel and cargo documentation, promoting faster, paperless logistics. Notably, this platform connects over 80 ports and 40 key stakeholders, reflecting broad industry adoption. The 'DRISHTI' Framework was launched to Fast-Track Maritime Goals, providing a comprehensive monitoring framework to accelerate the implementation of Maritime India Vision 2030 and Amrit Kaal Vision 2047. Inspired by Prime Minister's motto of 'Reform, Perform, Transform, Inform', DRISHTI has been built on four strategic pillars: KPI Monitoring, Achievements Tracking, Organisational Monitoring, and Functional Cell Oversight. Speaking on the occasion, Sarbananda Sonowal said, 'Under the visionary leadership of Prime Minister Narendra Modiji, India's maritime sector is undergoing a transformative digital shift. With the launch of SAGAR SETU platform and the Digital Centre of Excellence initiative, we reaffirm our unwavering commitment to use modern technology to bring in efficiency, transparency and sustainability. Apart for modernising the port & logistics operations, it will accelerate our journey towards a greener, smarter and an Atmanirbhar maritime economy. Aligned with the goals of the Maritime India Vision 2030 and Amrit Kaal Vision 2047, these efforts represent a significant step towards realising the Prime Minister's vision of a Viksit Bharat. By embracing emerging technologies like AI, IoT, and blockchain, we are building a future-ready infrastructure that empowers our ports, streamlines trade, and strengthens India's position as a global maritime leader.' A standardized Scale of Rates (SOR) template for all Major Ports to enhance transparency and ease of doing business was released. This new SOR aims to address inconsistencies and interpretation issues by providing a uniform structure for port tariffs. Developed after extensive consultations and a comprehensive review of existing SORs and Tariff Guidelines, the template includes standardized definitions and transparent conditions for rate applications. While offering flexibility for ports to adapt to local conditions, the SOR template supports digital integration, facilitating better tariff comparisons and clearer service articulation. This initiative is set to improve trade efficiency and align the port services with evolving market dynamics. Speaking on the launch, the Union Minister of State for MoPSW, Shantanu Thakur said, 'Guided by the vision of Prime Minister Narendra Modi ji, we are standardising processes and digitising systems to make our ports more transparent, efficient, and business-friendly. The new Scale of Rates and tech-led platforms like SAGAR SETU will streamline trade, boost investor confidence, and align our maritime ecosystem with global best practices.' In a parallel but strategically aligned move toward sustainability, India's ambition to become a global leader in green hydrogen has been bolstered with the publication of 'Gateway to Green: Assessing Port Readiness for Green Hydrogen Transition in India.' This pivotal report prepared in collaboration with the Indian Ports Association (IPA), outlines a roadmap for transforming Indian ports into hubs for green hydrogen production, storage, and export. The report identifies strategic action areas such as land facilitation for green hydrogen production, stimulating demand, investing in shared infrastructure, fostering international collaboration, and adopting active investment roles. Indian ports such as VO Chidambaranar Port, Paradip Port, Deendayal Port, Jawaharlal Nehru Port, Mumbai, and Cochin are particularly well-positioned to cater to the clean energy demands of East Asia and the European Union. Towards the concluding remark, Sarbananda Sonowal said, 'India's ports are evolving into catalysts of the green hydrogen revolution, a vision of PM Narendra Modi to produce 5 million tons of Green Hydrogen by 2030. This roadmap reflects our commitment to sustainability and energy security, as envisioned by Prime Minister Narendra Modi ji. By unlocking our ports' potential, we aim to position India as a key global hub for green hydrogen production, storage, and export, build on the natural advantages of India's vibrant maritime ecosystem.' The launch of these initiatives is a testament to the Indian government's commitment to digital empowerment and clean energy leadership. As Minister Sarbananda Sonowal stated, the focus is on ensuring that ports evolve from traditional gateways of trade to catalysts of sustainable development. These ventures not only strengthen India's position in the global logistics landscape but also contribute meaningfully to national economic growth, envisioning a digitally empowered, self-reliant, and environmentally sustainable India. The event was also attended by TR Ramachandran, Secretary, MoPSW along with other senior officials of the ministry. (ANI)
Time of India
2 days ago
- Business
- Time of India
Sarbananda Sonowal inaugurates Sagarmala Finance Corporation Limited, India's first maritime non-banking financial company
New Delhi: The Union Minister of Ports, Shipping & Waterways MoPSW), Sarbananda Sonowal , on Thursday inaugurated Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector . The Union Minister Sonowal was joined by the Union Minister of State for MoPSW, Shantanu Thakur along with Secretary, MoPSW, TK Ramachandran at the launch. Formerly known as Sagarmala Development Company Limited, SMFCL is now positioned to play a transformative role in India's maritime infrastructure development, in alignment with the Amrit Kaal Vision 2047 . SMFCL --a Mini Ratna, Category-I, Central Public by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo Sector Enterprise has been formally registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) as of June 19, 2025. Speaking on the occasion, the Union Minister, Sarbananda Sonowal, said, "The registration of Sagarmala Finance Corporation Limited as an NBFC is a major milestone in India's maritime journey. Under the visionary leadership of Prime Minister Narendra Modi, we are taking decisive steps to strengthen the maritime sector as a key pillar of our economy. SMFCL will bridge crucial financing gaps and offer Sector-specific financial solutions, empowering ports, MSMEs, startups, and institutions. It has fulfilled a long-standing demand of the maritime industry in the country. This move is in perfect alignment with the Maritime Amrit Kaal Vision 2047 and our shared goal of making India a leading global maritime power and Viksit Bharat." Live Events As a sector-specific NBFC, SMFCL is uniquely poised to bridge financing gaps in the maritime sector and catalyse economic growth. The corporation will offer tailored financial products--including short, medium, and long-term funding--to a diverse range of stakeholders such as port authorities, shipping companies, MSMEs, startups, and maritime educational institutions. In its expanded mandate, SMFCL will also support strategic sectors like shipbuilding, renewable energy, cruise tourism, and maritime education, further reinforcing India's vision to emerge as a global maritime leader. Speaking on the occasion, the Union Minister of State for MoPSW, Shantanu Thakur, said, "With SMFCL now functioning as a dedicated NBFC, we're creating a focused financial ecosystem to accelerate maritime growth. This will unlock opportunities for innovation, investment, and inclusive development across the sector." With this milestone, SMFCL is set to provide a more focused and accessible financial ecosystem for India's maritime growth, enabling projects that contribute to sustainable development, innovation, and national logistics efficiency.
India Gazette
2 days ago
- Business
- India Gazette
Sarbananda Sonowal inaugurates Sagarmala Finance Corporation Limited, India's first maritime non-banking financial company
New Delhi [India], June 26 (ANI): The Union Minister of Ports, Shipping & Waterways MoPSW), Sarbananda Sonowal, on Thursday inaugurated Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector. The Union Minister Sonowal was joined by the Union Minister of State for MoPSW, Shantanu Thakur along with Secretary, MoPSW, TK Ramachandran at the launch. Formerly known as Sagarmala Development Company Limited, SMFCL is now positioned to play a transformative role in India's maritime infrastructure development, in alignment with the Amrit Kaal Vision 2047. SMFCL --a Mini Ratna, Category-I, Central Public Sector Enterprise has been formally registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) as of June 19, 2025. Speaking on the occasion, the Union Minister, Sarbananda Sonowal, said, 'The registration of Sagarmala Finance Corporation Limited as an NBFC is a major milestone in India's maritime journey. Under the visionary leadership of Prime Minister Narendra Modi, we are taking decisive steps to strengthen the maritime sector as a key pillar of our economy. SMFCL will bridge crucial financing gaps and offer Sector-specific financial solutions, empowering ports, MSMEs, startups, and institutions. It has fulfilled a long-standing demand of the maritime industry in the country. This move is in perfect alignment with the Maritime Amrit Kaal Vision 2047 and our shared goal of making India a leading global maritime power and Viksit Bharat.' As a sector-specific NBFC, SMFCL is uniquely poised to bridge financing gaps in the maritime sector and catalyse economic growth. The corporation will offer tailored financial products--including short, medium, and long-term funding--to a diverse range of stakeholders such as port authorities, shipping companies, MSMEs, startups, and maritime educational institutions. In its expanded mandate, SMFCL will also support strategic sectors like shipbuilding, renewable energy, cruise tourism, and maritime education, further reinforcing India's vision to emerge as a global maritime leader. Speaking on the occasion, the Union Minister of State for MoPSW, Shantanu Thakur, said, 'With SMFCL now functioning as a dedicated NBFC, we're creating a focused financial ecosystem to accelerate maritime growth. This will unlock opportunities for innovation, investment, and inclusive development across the sector.' With this milestone, SMFCL is set to provide a more focused and accessible financial ecosystem for India's maritime growth, enabling projects that contribute to sustainable development, innovation, and national logistics efficiency. (ANI)
Fibre2Fashion
08-06-2025
- Business
- Fibre2Fashion
India commits $20 bn to boost logistics, port connectivity: Sonowal
India has committed $20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation, said Union Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal at the India pavilion at Nor-Shipping, a premium global maritime event in Oslo. At the session, Sonowal highlighted India's growing maritime capabilities including favourable policy induced investment environment, proven shipbuilding strength, circular economy efforts, and innovative financing plans to accelerate sectoral growth. 'Under the able and visionary leadership of Prime Minister Narendra Modi, India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat. These goals envisage India as a modern, self-reliant, inclusive, and globally engaged economy. In this journey, the maritime sector is central—not just as a driver of growth, but as an enabler of resilience, sustainability, and strategic connectivity. India has launched wide-ranging efforts to expand port infrastructure, integrate logistics systems, and improve ease of doing business for the private sector. These reforms are already bearing fruit in the form of increased port efficiency, stronger cargo flows, and rising investor confidence,' Sonowal explained. Indian Minister Sarbananda Sonowal has announced that India has committed $20 billion to enhance multimodal logistics, port connectivity, and trade facilitation. This initiative supports the nation's Maritime Vision 2047, aiming to position India as a global maritime leader. Key projects include the development of Green Hydrogen Hub Ports and the launch of the Maritime Development Fund. He also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like India - Middle East - Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North - South Transport Corridor (INSTC). 'To support these efforts, India is working to become a credible and competitive alternative. Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047,' Sonowal added. Emphasising the need for a green and sustainable maritime future, Sonowal added, 'India is establishing three Green Hydrogen Hub Ports— Kandla, Tuticorin, and Paradip— to support the manufacturing of green hydrogen and its derivatives and to pioneer the use of alternative fuels in the maritime domain. We are also proud to lead under the IMO's Green Voyage 2050 initiative, assisting developing countries in their energy transitions.' 'India's maritime digital ecosystem is undergoing a transformation. Initiatives such as ONOP (One Nation - One Port Process), National Logistics Portal (Marine) and MAITRI – Virtual Trade Corridor are creating a unified national platform for port services and EXIM trade. These efforts are improving operational transparency, reducing transaction time and building real-time data systems. We are also engaging with global partners to establish virtual trade corridors that will digitally connect ports, enabling seamless cargo movement and reducing bottlenecks,' he explained. In another session, 'Ship Recycling – Enabler to Circular Economy and Sustainable Maritime', India presented its mature, Hong Kong Convention (HKC) compliant ship recycling framework. The country's environmentally regulated and high-capacity ship recycling ecosystem was showcased as a key contributor to global circular economy efforts. The event also featured a strategic presentation on India's port-led decarbonisation strategy. This included the development of green hydrogen and ammonia production hubs at Indian ports to support green fuel bunkering, shipping corridors, and overall maritime decarbonisation goals. On India's proven Maritime manpower, Sonowal continued, 'India is currently the second largest seafarer manpower provider to Norwegian owned ships. Through this platform, I would like to encourage larger partnerships for seafarer recruitment between Norwegian and Indian agencies. India stands ready—as a reliable, responsible, and forward-looking maritime partner. We are committed to shaping a maritime future that is green, secure, efficient, and inclusive.' On the investment front, discussions focused on 'Innovative Financing for Maritime Growth', with insights into the proposed Maritime Development Fund. The blended finance model aims to use concessional capital from the government to unlock private investment. India also highlighted institutional mechanisms for risk sharing and partnership models to mobilise investments into its growing maritime sector. Fibre2Fashion News Desk (RR)
Time of India
20-05-2025
- Business
- Time of India
Centre to invest additional Rs 1,000 cr in inland waterways projects in Assam, Northeast in 2026: Union Minister
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Union Minister of Ports , Shipping & Waterways (MoPSW), Sarbananda Sonowal , reviewed the ongoing projects in Assam and the Northeast with the senior officials from the Ministry of Ports, Shipping & Waterways (MoPSW), theInland Waterways Authority of India (IWAI), Public Work Department (PWD), Indian Port Rail and Ropeway CorporationLimited (IPRCL) and Cochin Shipyard Limited (CSL).The minister underscored the need to complete the projects on time in line with the broader vision of Prime Minister Narendra Modi's Viksit Bharat 'Northeast is the topmost priority for PM Narendra Modi ji, our work in the region must sync with the vision of Viksit Bharat,' asserted Sarbananda Sonowal at the said, 'As per the vision of Prime Minister Narendra Modi ji, we are developing robust waterway infrastructure in Assam and the Northeast with projects worth Rs 1,000 crore on the anvil, targeted for completion by 2026. In last two years, more than Rs 1,000 crore has been invested, with Rs 300 crore worth of projects already completed. Following my review of ongoing works in the region, we are on track to complete the remaining Rs 700 crore projects by the end of 2025. These efforts aim to boost cargo and passenger movement, improve last-mile connectivity, promote economic growth in the Northeast, and align with the broader vision of Atmanirbhar Bharat through sustainable and inclusive transport solutions.'The Union Government is actively developing key infrastructure projects along NW2 (Brahmaputra) and NW16 (Barak), including the construction of passenger vessels of various capacities, terminal facilities, and capacity-building also reviewed progress on the proposed Inland Water Transport (IWT) project at Doyang Lake, and assessed thepotential of Noune and Shilloi Lakes in Nagaland for water sports and tourism. Feasibility studies for IWT development on the Tiawng and Chhimtuipui rivers in Mizoram, as well as on Umiam Lake and the Ummgot River (NW106) in Meghalaya, were also said, 'Under Prime Minister Narendra Modi's visionary leadership, India is steadily moving towards the goal of Viksit Bharat. Assam and the Northeast are central to this progress, with inland waterways playing a vital role. Since 2014, the Modi government has revived this once neglected mode of transport, especially through the Brahmaputra (NW2) and Barak (NW16) rivers. Schemes like Jalvahak are encouraging businesses to adopt this economical, efficient, and eco friendly mode, reducing pressure on road and rail, and positioning Assam as a key driver in India's journey towards a self-reliant economy by 2047.'Reviewing multiple projects ranging from new infrastructure development for capacity enhancement on national waterways to scaling up with skill development initiatives for youth of Assam and the Northeast in the maritime sector, Union Minister Sarbananda Sonowal emphasised the urgency and the need for optimum utilisation of further Sonowal said, 'Under the visionary leadership of Prime Minister Narendra Modi ji, the government isbuilding new avenues for the youth of Assam and the Northeast to participate in India's maritime growth. Through institutions like the Maritime Skill Development Centre in Guwahati and the Centre of Excellence for Inland Water Transport in Dibrugarh, we are training a future-ready workforce equipped for inland and global maritime opportunities. These efforts are part of a larger push to skill, empower and employ our youth in logistics, cargo handling, vessel operations and more—especially as we expand infrastructure on NW2 and NW16. The Northeast is not just a gateway to Southeast Asia, but a key contributor to India's journey towards becoming a global maritime leader and achieving Viksit Bharat by 2047."To further enhance cruise tourism and cargo handling capacity across National Waterways 2 (Brahmaputra) and 16 (Barak), over Rs 1,500 crores have been earmarked for key projects scheduled to be completed by 2027-28. These include construction of modern jetties equipped with onshore facilities at Silghat, Bishwanath Ghat, Neamati Ghat, and Guijan. Additionally, a new building for the Regional Office of the Mercantile Marine Department (MSDC), along with a guest house and office space for ITAT, will be constructed at Fancy Bazar in also noted progress on the proposed Water Metro services in Guwahati and Dhubri, with a Rs 315 crore investment and two electric catamarans being built by Cochin Shipyard Ltd. A Rs 100 crore cruise terminal in Guwahati and a Regional Centre of Excellence (RCoE) in Dibrugarh worth Rs 120 crore are also in the along Brahmaputra (NW2) includes five riverine lighthouses at key locations, fairway development between Pandu and Bogibeel with Rs 150 crore, and procurement of two cutter suction dredgers. The IWAI is implementing Rs 1,010 crore worth of projects across NW2 and NW16, including terminals at Bogibeel and Jogighopa, and a Rs 208 crore ship repair facility at Barak river (NW16), Sonowal reaffirmed that survey and dredging equipment, and floating terminals at Karimganj and Badarpur projects reflect the Modi Government's commitment to making the Northeast a hub of India's maritime ensure consistent navigability along the Brahmaputra, the Dredging Corporation of India (DCI) has been entrusted with maintaining a minimum assured draft of 2.5 meters from the Bangladesh border to Pandu under NW-2 until 2026-27.
