Sagarmala Finance Corporation Targets Rs 60,205 Crore in Disbursements by FY2031 as Sonowal Opens Its Corporate Office

23 October 2026National

Union Minister Sarbananda Sonowal inaugurated the corporate office of Sagarmala Finance Corporation Limited (SMFCL) - India's first dedicated maritime-sector NBFC, under the Ministry of Ports, Shipping and Waterways - in New Delhi on 23 October 2026, as the company set a target of Rs 60,205 crore in cumulative disbursements by the end of FY2031. SMFCL had sanctioned Rs 11,563 crore and disbursed Rs 5,107 crore as of 30 September 2026 across ports, inland waterways, coastal infrastructure, shipbuilding and ship repair. It also anchors the Maritime Development Fund, whose Rs 9,800-crore government contribution flows through a Maritime Investment Fund managed by SBI Ventures Limited.

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The Sagarmala programme for port-led development was approved in 2015 under the Ministry of Ports, Shipping and Waterways | The Maritime Amrit Kaal Vision 2047 is India's long-term maritime roadmap, and the National Maritime Heritage Complex is being developed at Lothal, Gujarat | Sarbananda Sonowal, a former Chief Minister of Assam, is the Union Minister of Ports, Shipping and Waterways

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