Sagarmala Finance Corporation has sanctioned ₹11,563 crore for maritime projects, while the Maritime Development Fund targets its first ₹5,000 crore close by January 2027.
Highlights
- SMFCL has disbursed ₹5,107 crore as of September 30, 2026.
- Total maritime financing sanctions reached ₹11,563 crore.
- Corporation targets cumulative disbursements of ₹60,205 crore by FY2031.
- Maritime Development Fund targets its first ₹5,000 crore close by January 2027.
India’s First Maritime NBFC Targets ₹60,205 Crore Financing by 2031
New Delhi, October 24, 2026: India’s first dedicated maritime Non-Banking Financial Company (NBFC), Sagarmala Finance Corporation Limited (SMFCL), has disbursed ₹5,107 crore in financing and sanctioned loans worth ₹11,563 crore as of September 30, 2026, according to the Ministry of Ports, Shipping and Waterways.
The corporation aims to increase its cumulative disbursements to ₹60,205 crore by the end of FY2031, supporting the expansion of India’s ports, shipbuilding industry and maritime infrastructure.
Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal inaugurated SMFCL’s corporate office at the Institute for Studies in Industrial Development (ISID) in New Delhi on October 23.
Maritime Development Fund Targets ₹5,000 Crore
The government is also advancing the Maritime Development Fund (MDF), which aims to strengthen financing for maritime infrastructure and shipbuilding projects.
Under its Maritime Investment Fund component, SBI Ventures Limited has been appointed as the official fund manager.
The fund is expected to complete its registration as an Alternative Investment Fund with the Securities and Exchange Board of India (SEBI) by the end of November 2026.
Its first close of ₹5,000 crore is targeted for January 2027.
The government plans to contribute up to ₹9,800 crore to the Maritime Investment Fund through SMFCL.
₹4,500 Crore Loans Supported
The Interest Incentivisation Fund (IIF), another component of the Maritime Development Fund, has already supported loans worth ₹4,500 crore.
Approximately ₹25 crore in interest subsidies has been released to eligible borrowers.
The initiative aims to reduce borrowing costs for shipyards and encourage investment in domestic shipbuilding.
SMFCL also manages credit risk support under the Shipbuilding Development Scheme to reduce financial risks for shipyards and lenders.
Focus on Maritime Growth by 2047
Speaking at the inauguration, Sonowal said SMFCL would play an important role in mobilising long-term financing for port-led development, shipbuilding and coastal connectivity.
The corporation provides financial assistance for ports, inland waterways, coastal infrastructure, ship repair facilities and logistics connectivity projects.
It also monitors the allocation and utilisation of funds under the Sagarmala programme and the National Maritime Heritage Complex project.
The initiatives form part of the government’s Maritime Amrit Kaal Vision 2047, which seeks to strengthen India’s position as a globally competitive maritime nation.
