New Delhi: By 2047, India wants to use ships built domestically and flying the Indian flag for all of its export-import trade.

Mr.Sarbananda Sonowal, the union minister for ports, shipping, and waterways, asserted this while speaking at a press conference on the sidelines of third edition of Sagarmanthan 2026.

'Blue Geographies, New Aspirations: Trade, Technology, and Trust at Sea' is the theme of the three-day event that brought over 1,200 speakers, delegates, and participants from nearly 75 countries to Delhi. It will conclude on October 9.

"India won't need charter ships by 2047. Our fleet will be our own. It will be raised to the point where we can manage 95% of our EXIM cargo on our own”, Sonowal adding, "So that's how India wants to strengthen its maritime power."

The long-term goal is to develop enough domestic capacity to meet the nation's shipping needs and lessen reliance on foreign-flagged vessels, he continued, pointing out that India wants to become self-reliant in shipbuilding. India is targeting a port cargo-handling capacity of 10,000 million tonnes by 2047, a substantial expansion from current levels, as it seeks to position itself as a global maritime hub.

In this sense, the government was creating an environment that would allow Indian shipyards to compete for orders from abroad. For example, Norway, the US, and Germany have placed shipbuilding orders with Cochin Shipyard, he said.

According to Sonowal, India aspires to rank among the top five shipbuilding countries in the world.