Mumbai (Maharashtra) [India], October 2 (ANI): Union Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal called on the Shipping Corporation of India (SCI) to take a leading role in India's drive toward self-reliant, globally competitive shipbuilding and maritime capacity, as the company marked 65 years of operations at a ceremony at the International Cruise Terminal here today.

Sarbananda Sonowal, who attended as the chief guest at the event, congratulated SCI on completing six and a half decades of service to the nation and highlighted the company's role in safeguarding India's energy and trade security, pointing specifically to its performance during the recent Strait of Hormuz crisis. 

The Union Minister called on SCI to help advance the government's Viksit Bharat and Atmanirbhar Bharat goals, framing a stronger national fleet as central to India's ambition of becoming a top shipbuilding and ship-owning nation by 2047, according to the release.

'SCI is one of the clearest examples of India building its own strength at sea,' Sonowal said. 

'As India works to become a top shipbuilding nation under Maritime Amrit Kaal Vision 2047, SCI's fleet, its people and its partnerships will be central to that mission.'

Union Minister Sonawal further said that Indian-flagged vessels handle only 5 per cent of the nation's export cargo while foreign liners carry 95 per cent, leading to an annual foreign exchange outflow of roughly $75 billion.

Highlighting that recent disruptions in the Red Sea, Black Sea, and Strait of Hormuz proved shipping capacity is vital for economic and energy security.

'Indian-flagged vessels presently carry only about five percent of India's export cargo, only five percent. Ninety-five per cent of the export cargo is handled by foreign shipping liners. Our dependence on foreign carriers results in an estimated annual foreign exchange outflow of around seventy-five billion US dollars. Recent disruptions in the Red Sea, the Black Sea, and the Strait of Hormuz have shown that shipping capacity is directly connected with economic and energy security. Maritime Amrit Kaal Vision 2047 envisions placing India among the world's top ten nations in shipping tonnage by 2030 and among the top five by 2047," he said. 

Founded in 1961 as a liner shipping company with 19 vessels, SCI has grown into a diversified maritime enterprise operating 58 vessels totalling 5.26 million deadweight tonnage (DWT). The company's operations now span crude and product tankers, bulk and container shipping, LPG and LNG carriers, offshore services, passenger and coastal transport, project cargo, ship management, and shipbuilding consultancy, according to the release.

'Under the visionary leadership of Prime Minister Shri Narendra Modi ji, India is no longer content to simply own ships - we are determined to build them, right here at home. SCI's growth over these decades shows what Indian enterprise can achieve when backed by national resolve. As SCI expands its fleet and deepens its partnerships, it strengthens not just one company, but India's entire shipbuilding ambition, and carries us forward, mile by mile, toward the goal of a Viksit Bharat,'Sarbananda Sonowal said.

Nitesh Narayan Rane, Maharashtra's Minister for Fisheries and Ports and Guest of Honour at the event, credited SCI's enduring ties to Maharashtra and Mumbai, and said a strong shipping ecosystem remained essential to trade, employment and the broader growth of India's maritime economy.

Vijay Kumar, Secretary of MoPSW, addressed the gathering virtually and pointed to SCI's role as a second line of defence during periods of national need, alongside what he called its robust financial performance despite the shipping industry's cyclical nature. The secretary said SCI's fleet expansion, strategic partnerships and focus on greener shipping would further strengthen India's maritime capabilities and its global maritime presence under MAKV 2047.

Captain BK Tyagi, SCI's chairman and managing director, outlined the company's plans for the years ahead, reaffirming its commitment to building a larger, modern and globally competitive fleet in support of the national push to expand India's shipping capacity and tonnage.

SCI is undertaking a fleet augmentation program backed by the government's expanded policy and financing support for the maritime sector, with proposed joint ventures involving Indian Oil's public sector undertakings and the Bharat Container Shipping Line laying the groundwork for accelerated expansion toward MAKV 2047 targets.

SCI is positioned to play a central role in strengthening India's maritime capacity, supporting the country's economic and energy security, and contributing to its broader shipbuilding and tonnage ambitions, as the company enters its next phase of growth toward a Viksit Bharat and Atmanirbhar Bharat. (ANI)