The Government of India has launched the Sagarmala Finance Corporation Ltd (SMFCL) on June 26, 2025, in New Delhi. The launch was led by Union Minister Sarbananda Sonowal, marking a major step in strengthening the country’s maritime economy.
SMFCL is India’s first sector-focused Non-Banking Financial Company (NBFC) dedicated entirely to port-led development. It will offer financial support for infrastructure, shipping, coastal MSMEs, tourism, blue energy, and education linked to the maritime field.
This initiative is part of the ongoing Sagarmala Programme, launched in 2015, which aims to modernize ports, enhance connectivity, promote industrial clusters, and uplift coastal communities. SMFCL also supports the Maritime Amrit Kaal Vision 2047, a roadmap to make India a global leader in maritime trade and logistics.
By closing funding gaps in key projects, SMFCL is expected to improve logistics, reduce costs, and boost job creation in coastal regions—paving the way for long-term sustainable growth in India’s blue economy.
