Mumbai, Oct 27 (PTI) — Union Home Minister Amit Shah on Monday said the USD 5 billion Great Nicobar Island Development Project will multiply India’s maritime trade several times and strengthen the country’s position in global shipping.
Speaking at the inauguration of India Maritime Week 2025 in Mumbai, Shah said India’s democratic stability and naval strength have helped bridge the gap between the Indo-Pacific and the Global South.
“The USD 5 billion Great Nicobar project will increase maritime world trade many times,” Shah said, adding that the country aims to become one of the top five shipbuilding nations and increase cargo handling threefold to 10,000 MMTPA by developing deep-draft ports.
He highlighted that the upcoming Vadhavan Port near Mumbai, being developed with an investment of USD 10 billion, will rank among the world’s top 10 ports from day one.
Shah said structural reforms in the maritime sector have positioned India as an emerging global maritime power. “We are at the cusp of creating a new maritime history. The Gateway of India will soon become the ‘Gateway of the World’ through such initiatives,” he added.
Launched in 2021, the Great Nicobar project aims to transform the island in the Bay of Bengal into a major hub of trade, tourism, and logistics.
Shah also noted that India prefers cooperation over competition, with opportunities worth Rs 10 lakh crore available in the maritime sector.
At the same event, Union Minister Sarbananda Sonowal said only a peaceful and law-abiding society can attract investors, lauding progress in internal security and stability under Shah’s leadership.
Vijay Kumar, Secretary, Ministry of Ports, Shipping & Waterways, said the event saw 1.5 lakh registrations from 11 countries and will feature 350 international speakers. Around 680 investment agreements worth over Rs 10 lakh crore, expected to create seven lakh jobs, will be signed during the week, he added.
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