India’s shipping sector is set to receive a transformative boost with the announcement that Cyprus-based Interorient Navigation Co Ltd and Danship & Partners Ltd will invest ₹10,000 crore in the industry. 

This represents the largest foreign direct investment (FDI) in Indian shipping since the sector was fully opened to overseas investment in 2005. The announcement comes on the heels of Prime Minister Narendra Modi’s state visit to Cyprus in June 2025, where he held strategic discussions with Cypriot President Nikos Christodoulides, strengthening bilateral maritime cooperation.

Under this landmark initiative, all ships acquired through the investment will be registered under the Indian flag, significantly expanding India’s national shipping tonnage and enhancing maritime self-reliance.

This move is expected to modernise India’s shipping fleet and support the country’s ambitions under national programs such as the ‘Maritime India Vision 2030’ and ‘Sagarmala’, as well as the broader ‘Atmanirbhar Bharat’ and ‘Amrit Kaal Vision 2047’ frameworks.

A key aspect of the investment is that freight income generated from transporting India’s export and import (EXIM) cargo will remain within the domestic economy, rather than flowing overseas. This retention of freight earnings is anticipated to have a multiplier effect on the Indian economy, supporting trade, employment, and value creation within the country.

The initiative is also projected to generate substantial employment opportunities for Indian seafarers, cadets, and maritime professionals.

Interorient Navigation, established in 1979, operates a fleet of over 100 vessels worldwide and is recognised as a major player in international shipping. Danship & Partners brings expertise in shipbroking, commercial management, and maritime consultancy, serving clients globally. The collaboration of these two established firms signals international confidence in India’s maritime future and is expected to attract further global investment into the sector.

Overall, this ₹10,000 crore FDI is poised to be a catalyst for India’s maritime growth, strengthening economic security, expanding shipping capacity, and reinforcing the nation’s position as a key player in global trade.

Based On A PTI Report