Piyush Goyal Highlights Ports & Logistics as Pillars of India's Economic Growth

Union Minister Piyush Goyal spotlighted the significance of ports, shipping, and logistics for India's economy at the 12th Biennial International Conference in Mumbai. He encouraged further development in shipbuilding, vessel registration, and logistics innovations to bolster trade and elevate India's global economic position.

Union Minister of Commerce & Industry Piyush Goyal emphasized the indispensable role of ports, shipping, and logistics in propelling India's economic expansion during the 12th Biennial International Conference on Ports, Shipping & Logistics 2025 in Mumbai. As the Chief Guest, Goyal highlighted these sectors as crucial connectors in global trade.

Drawing attention to India's potential in shipbuilding, Goyal revealed that the government is pursuing strategies to invigorate this sector. He urged industry stakeholders to offer recommendations to make the registration of vessels under the Indian flag more appealing, noting the country's strategic edge in cabotage under WTO regulations.

Goyal called on both State and Central stakeholders to formulate solutions that would incentivize companies to register vessels domestically. He acknowledged improvements in port infrastructure, noting doubled capacity and quicker turnaround times, yet called for enhanced logistics frameworks to support increased trade volumes.

With 95% of India's trade volume passing through its ports, Goyal highlighted the advantages of the nation's extensive coastline. He advocated for improved logistics to handle port traffic more efficiently. Goyal praised initiatives like the Unified Logistics Interface Platform but called for more industry-driven advancements toward a cohesive logistics system.

Addressing workforce needs, Goyal proposed a hybrid training model to develop skilled seafarers. He also pinpointed areas needing advancement, such as container manufacturing, export speed, and port decongestion.

Amid global trade challenges, Goyal affirmed India's economic resilience and role as a stability haven, stressing the importance of maritime trade in realizing the vision of a "Viksit Bharat." He posited that robust shipping and logistics networks are pivotal to sustainable economic prosperity.