India and Singapore Sign LOI on Green Shipping Corridor

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Posted by newadmin on 2025-03-27 08:45:55 |

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On March 25, 2025, India and Singapore signed a Letter of Intent (LoI) to collaborate on the Green and Digital Shipping Corridor (GDSC) during the Singapore Maritime Week. This partnership aims to enhance maritime digitalisation and decarbonisation, encouraging innovation and the adoption of low-emission technologies in the maritime sector.

The GDSC initiative was launched to address environmental concerns in shipping by focusing on reducing greenhouse gas emissions. The corridor facilitates the development of zero or near-zero emission technologies, making it a crucial step toward sustainability in maritime operations. The primary objectives of this collaboration include promoting maritime digitalisation, identifying stakeholders for joint projects, accelerating the adoption of green technologies, and formalising the partnership through a memorandum of understanding.

This agreement holds significant importance for both nations. India contributes its expertise in information technology and green fuel production, while Singapore, as a global maritime hub, provides advanced infrastructure and maritime expertise. Together, they aim to set new standards in maritime sustainability and operational efficiency. The GDSC is expected to drive innovation in the shipping industry by enhancing digital integration and streamlining maritime operations. The collaboration will also strengthen a resilient maritime ecosystem, benefiting both countries and the global industry.

Beyond shipping, the partnership paves the way for further cooperation, particularly in cruise tourism. India is exploring successful models from Singapore and considering locations like Goa, Mumbai, and Chennai for the development of new cruise terminals. This initiative could significantly boost India’s cruise tourism sector and attract international visitors.

The signing of this agreement took place during the Singapore Maritime Week, a globally recognised event that attracts thousands of industry delegates. This platform showcases advancements in maritime technology and sustainability, fostering collaboration and dialogue among key industry leaders. More than 28 stakeholders from maritime, energy, and finance sectors are involved in the GDSC initiative, bringing diverse expertise to achieve shared sustainability goals. Through this collaboration, India and Singapore are reinforcing their commitment to greener and smarter shipping solutions.

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