Prime Minister Narendra Modi inaugurated the India Maritime Centre (IMC) in Mumbai, pitching it as a hub for India’s growing blue economy and maritime ambitions.

The centre is designed to bring together policymakers, industry and researchers under one roof. It will work on port modernisation, shipbuilding, coastal shipping and marine research, supporting the government’s Maritime India Vision 2030.

Speaking at the event, the Prime Minister said India’s long coastline is an untapped economic asset. He pointed to rising cargo volumes at Indian ports and said the centre would help India compete with global maritime hubs like Singapore and Dubai.

The inauguration comes as India pushes to expand its port capacity and cut logistics costs, which remain higher than in competing economies. Maritime trade already carries the bulk of India’s exports and imports.

Industry leaders welcomed the move, saying a dedicated centre could speed up policy coordination. The real measure of success, they say, will be whether the IMC can turn plans into faster clearances, cheaper shipping and more Indian-flagged vessels.