Since independence, India’s shipping tonnage has grown significantly, with the merchant fleet reaching 1520 vessels, and 13.69 million gross tonnage (GT) by December 2022, a 54-fold increase. Investment in the shipping sector has steadily increased, supported by government and private sector efforts. International trade growth and infrastructure improvements in developing countries, particularly in Asia, have bolstered the industry. Key features include its cyclic nature and high capital investment, which create barriers to entry, but provide stability for established companies. This chapter explores the industry’s evolution, challenges, and significant developments, such as containerization and advanced marine engineering technology.