“India Plans 100 New Ships to Cut $75 Billion Foreign Freight Bill:” Sarbananda Sonowal at ‘Sagar Samvad’ of National Shipping Board

The National Shipping Board (NSB) held its inaugural 'Sagar Samvad' dialogue in New Delhi, focusing on the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047. Union Minister Sarbananda Sonowal announced plans to add 100 new vessels to India's merchant fleet over five years to help reduce the country's $75 billion foreign freight bill. Discussions covered major challenges such as Indian-flagged ships operating 16% to 20% costlier than foreign counterparts due to taxes and capital costs, and proposed a five-pillar roadmap involving fiscal reform, assured cargo support, competitive financing, regulatory streamlining, and ease of doing business. Separate sessions led by Mansukh Mandaviya addressed maritime labor, seafarer welfare, and skills for emerging segments like cruise shipping.