India’s maritime sector is set for a transformative leap as Cyprus-based shipping giants Interorient Navigation Co Ltd and Danship & Partners Ltd have pledged a record-breaking Rs 10,000 crore foreign direct investment (FDI) in Indian shipping. This is the largest FDI in the sector since it was fully opened to foreign ownership in 2005, and it comes on the heels of Prime Minister Narendra Modi’s milestone visit to Cyprus in June 2025.
The investment announcement directly follows high-level talks between PM Modi and Cyprus President Nikos Christodoulides, marking the first Indian prime ministerial visit to Cyprus in over two decades. The move is widely seen as a diplomatic breakthrough, deepening Indo-Cypriot ties and aligning with India’s broader push for economic self-reliance under the ‘Atmanirbhar Bharat’ vision.
All vessels purchased as part of this initiative will be registered under the Indian flag, significantly enhancing India’s national shipping tonnage and maritime self-reliance. Freight earnings from transporting Indian export-import (EXIM) cargo will remain within the Indian economy, supporting value retention and strengthening the country’s trade framework.
The investment is expected to create substantial employment for Indian cadets, trainees, and seafarers, further boosting the domestic maritime workforce. Interorient, founded in 1979 and operating a fleet of over 100 vessels worldwide, brings deep global experience to India’s shipping sector, signaling international confidence in the country’s maritime future.
The Rs 10,000 crore FDI from Cyprus-based Interorient Navigation and Danship & Partners marks a watershed moment for India’s maritime sector. Beyond boosting shipping capacity and job creation, it signals a new era of international confidence in India’s economic growth and strategic maritime ambitions.