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India's strategic location on the world's shipping routes with a vast coastline of approximately 7,517 km plays in their hands. As of 2021, India owns over 30% of the global share of the ship breaking industry. At present, India ranks as the 16th largest maritime nation globally, with its maritime sector accounting for 95% of the country's trade volume and 70% by monetary value.
India also launched a Maritime Vision 2030 under which they have identified over 150 initiatives to accelerate and develop India's diverse maritime sector even more. The Indian government also launched the Sagar Mala program in 2017 which aimed at developing Indian ports and growing logistics-intensive industries. To achieve this the GOI plans to invest $123 billion across 415 maritime projects.
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