The Shipping Corporation of India (Shipping Corporation of India - SCI), as the largest commercial shipping company in the country, is striving to make India one of the leading countries in the shipping industry. Sarbananda Sonowal, the Minister of Shipping of India, emphasized the country's determination to build domestic ships and reduce dependence on imports during the 65th anniversary celebration of SCI at the Mumbai cruise terminal.
Financial Growth and Future Goals
The Minister of Shipping of India announced that the profit after tax (PAT) of SCI is expected to exceed 2000 crore rupees in the current financial year, while this figure was 1352.92 crore rupees in the financial year ending March 2026. Sonowal also urged SCI to play a pioneering role in achieving self-sufficiency and global competitiveness in shipbuilding.
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SCI's Capabilities and the Future of India's Shipping Industry
Founded in 1961 as a shipping company with 19 vessels, the Shipping Corporation of India has now transformed into a diversified maritime institution with 58 vessels having a deadweight tonnage (DWT) of 5.26 million tons. The company operates in various fields including oil tankers and products, container transportation, marine services, and shipbuilding consultancy.
In his speech, Sonowal highlighted the company's role in ensuring energy security and trade for India, emphasizing the importance of strengthening the national fleet as a key objective to make India a leading country in shipbuilding and ownership by 2047. He also referenced the growth of SCI as a clear example of India's maritime power.
The CEO and Chairman of the Board of SCI, B. K. Tyagi, outlined the company's future plans in his speech and emphasized the company's commitment to building a larger and more modern fleet to support the expansion of India's shipping capacity and tonnage.
