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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; 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Major ports handled 915.17 million tonne of cargo in FY26: Sonowal
2026-04-24 · via Economy News, Latest Economic News Today | The HinduBusinessLine
Union Minister Sarbananda Sonowal

Union Minister Sarbananda Sonowal | Photo Credit: ANI

Major ports have collectively handled 915.17 million tonne of cargo in 2025–26, surpassing the annual target of 904 MT, Union Minister Sarbananda Sonowal said on Friday.

The ports, shipping and waterways minister further said that this marks a year-on-year growth of 7.06 per cent, reaffirming the sector's strong recovery, enhanced efficiency and sustained growth trajectory.

He said that during 2025-26, overall capex by the Shipping Ministry and its attached organisations was ₹14,953 crore compared to ₹9,708 crore in 2024-25.

"During 2025-26, 94 ships were added to the Indian Flag with the addition of 25.67 lakh Deadweight Tonnage (DWT) compared to 45 ships with 7.72 lakh DWT during 2024-25," the minister said at an event to exchange of MoU between the Delhi School of Economics and think tank RIS (Research and Information System for Developing Countries).

There are 12 major ports wholly-owned by the central government and governed by the provisions of the Major Port Authorities Act, 2021.

These are Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, V.O. Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port.

Sonowal said India's progress in sea-going workforce has been significant and measurable, as the number of Indian seafarers has nearly tripled during the last 12 years.

"India today ranks, amongst the top three countries, as a seafarer provider, contributing roughly 12 per cent of the global maritime workforce.

"We aim to increase our global share to 20 per cent by 2030," he added.

The minister emphasised that equally important is the skilling and development of maritime professionals for shore-based jobs.

"Therefore, the government is expanding the scope of maritime education into emerging and interdisciplinary domains," he said.

The minister said that for a maritime nation like India, with a coastline of over 11,098 kilometres, 111 National Waterways and a strategically advantageous position on major global trade routes.

Complementing all this is the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, which charts our long-term ambition for establishing India as the top maritime nation in the next 21 years, he said.

It is important to emphasise that the Blue Economy is not about the indiscriminate exploitation of ocean resources, Sonowal said, adding that it is about the sustainable and responsible utilisation of ocean, coastal and marine ecosystems to drive economic growth, generate livelihoods, while ensuring environmental protection.

"It encompasses a wide range of sectors, including fisheries, maritime transport, offshore renewable energy, marine biotechnology and coastal tourism," he said, adding that sustainability remains a central pillar of our maritime strategy.

Published on April 24, 2026