Blue economy a critical driver of infrastructure development, says Shyam Jagannathan

Shyam Jagannathan, Director General of Shipping, said here on Friday that the blue economy had emerged as a critical driver of infrastructure development, global competitiveness and sustainable growth under the vision of ‘Viksit Bharat 2047’.

“India’s maritime domain plays a pivotal role in trade and logistics, with over 90% of the country’s trade by volume moving through sea routes,” he said in his address at the COMARSEM 2026 (Cochin Marine Seminar) here, according to a communication.

He said that India’s maritime sector was central to its economic growth story. With 1,520-plus merchant vessels and over 13 million gross tonnage capacity, India was strengthening its presence in global shipping and maritime services, he said.

He noted that India was steadily emerging as a global leader in the blue economy, supported by multiple initiatives focusing on ports, shipbuilding, logistics, renewable energy and allied maritime industries.

He said that the government was promoting waste-to-wealth through ship recycling, with the objective of moving India from the second to the first position globally, while encouraging green belt development across at least 33 per cent of port areas, according to the release.