Kolkata: With India relying on foreign vessels to transport over 90 per cent of its imports and exports, the country faces a significant strategic vulnerability even as states like Bengal stand to gain from a major Central push to strengthen domestic maritime capacity, said Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister.
At the National Shipping and Logistics Conclave organised by the Bengal Chamber of Commerce and Industry, Sanyal told the media that Bengal, with its historical links to sea trade and established facilities in Kolkata and Haldia, is well-placed to leverage the renewed policy focus. Existing shipbuilding capacity in the state could benefit from the Centre’s maritime expansion plans
as India seeks greater self-reliance in global trade.
Describing the limited scale of India’s merchant fleet as a weakness, Sanyal said that economic security cannot rest solely on naval strength. Commercial ownership of ships, he argued, is essential to ensure resilience during global shocks. A strong merchant fleet, he noted, supports the economy “in good times and bad” and is crucial for trade stability.
He highlighted that the Centre has identified shipbuilding, port development and ship flagging as priority areas to address this gap. Legislative changes have granted infrastructure status to ships and updated ownership norms to encourage investment.
A Rs 77000 crore package has been announced to help build a national fleet and deepen India’s maritime capabilities.
Sanyal emphasised that the effort is aimed at creating a broader industrial base rather than merely adding vessels.
Shipbuilding, he pointed out, is labour-intensive and generates demand for steel, engineering and heavy machinery, while also strengthening logistics networks linked to ports and cargo movement.
Meanwhile, during a session at Merchant Chamber of Commerce and Industry, Sanyal said Kolkata is the single largest economic hub of Eastern India while other eastern cities like Bhubaneswar and Ranchi are a fraction of what Kolkata is.
He reiterated that Bengal should be thought of as a maritime state and needs a big port along the coastline.