The Sagarmala Finance Corporation Limited (SMFCL), India's first maritime sector NBFC, was introduced by the Union Minister of Shipping

SMFCL is a Mini Ratna Category-I CPSE belonging to the Ministry of Ports, Shipping and Waterways (MoPSW), operating as a specialized NBFC to serve the financial requirements of India’s maritime industry.

Main office: New Delhi.

Goals:

Address financing shortfalls in maritime infrastructure and logistics.

Facilitate financial access for MSMEs, startups, and educational organizations.

Assist key growth industries such as shipbuilding, cruise tourism, and renewable energy.

Support India's objective for global maritime leadership as outlined in the Amrit Kaal Vision 2047.

Functions:

Provide short-, medium-, and long-duration financing to port authorities, logistics firms, and maritime business owners.

Fund innovative maritime initiatives, such as green hydrogen, ship construction, and digital ports.

Serve as a financial driver for Public-Private Partnership (PPP) frameworks in ports and related infrastructure.

Collaborate with startups and research organizations to finance maritime training and research and development.

Importance:

Satisfies an enduring need for a specialized financial entity in maritime development.

Enhances port-driven progress in India through the Sagarmala Programme.

Improves investment preparedness of maritime infrastructure via tailored financial solutions.