Indian government creates the foundation for its maritime industry – Sagar Mala Finance Corporation Limited, SMFCL

Recently on 26th June 2025, Indian Minster Sarbanada Sonowal launched SMFCL, Sagar Mala Finance Corporation Limited, Its India’s first NBFL- Non-Banking Finance Company founded specially for maritime sector or blue economy

About SMFCL support :-

·       SMFCL has approx. 680 Crore Rupees Capital at Tier 1.

·       It can be increased up to 3400 Crore Rupees.

·       The financial support will include short / medium / long term funding for different maritime sectors like – ship companies, ports & infrastructure, maritime educational institutes, startups , MSME etc.

SMFCL aims to provide the required financial support to strengthen India maritime sector – including strengthening of ports, infrastructure, ship building etc.

The financial support is backed by RBI (Reserved Bank of India).

The long-term vision of SMFCL is aligned to Maritime Amrit kaal Vision – 2047 which prioritizes to create a macro eco system of jobs for Indians specially for youth.