Mumbai: The Housing and Urban Development Corporation Ltd (HUDCO), a Navratna NBFC-IFC, has signed six MoUs with major port authorities during the ongoing Maritime Week 2025 in Mumbai to finance projects worth Rs 1.1 lakh crore in India’s port infrastructure sector over the next decade. The initiative aligns with the Prime Minister’s vision to promote port-led development and harness the potential of India’s coastline and waterways.
Speaking on the occasion, Sanjay Kulshrestha, CMD, HUDCO, said: “HUDCO’s entry into port financing marks a new chapter in our growth journey. Through these strategic collaborations, we aim to channel ₹1.1 lakh crore into India’s maritime infrastructure to support the Sagarmala Programme and Maritime Amrit Kaal Vision 2047, both aimed at transforming India into a global maritime hub.”
India’s port sector is currently witnessing a major transformation, driven by modernisation, capacity expansion, and enhanced operational efficiency. The average vessel turnaround time has been reduced by nearly half, highlighting India’s emergence as a competitive player in global maritime logistics. HUDCO’s move into port financing comes at a crucial time, as the Maritime India Vision 2030 envisions Rs 3–3.5 lakh crore of investments across ports, shipping, and inland waterways.
The government’s initiatives, including the Rs 25,000 crore Maritime Development Fund (MDF), Rs 24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS), and Rs 19,989 crore Shipbuilding Development Scheme (SbDS), aim to strengthen port-led growth, boost shipbuilding capacity, and promote sustainable maritime infrastructure.