India aims to convert its entire coastal and inland waterways shipping to renewable energy in the next five years, the shipping secretary said on Thursday, aiding Prime Minister Narendra Modi's goal for net zero carbon emissions by 2070.

"We envision that all our vessels, which now use waterways, will all get converted into green. In five years, it is doable", T. K. Ramachandran said at an event organised by the Federation of Indian Chambers of Commerce and Industry.

India’s current share of renewable energy at major ports is less than 10% according to government estimates.

India, which extensively depends on foreign fleets, is also planning to add around 5,000 new vessels over the next decade to its existing capacity of about 1,500 vessels.

Last month, Modi launched the first Indian-made hydrogen-run ferry. Warship maker Garden Reach Shipbuilders & Engineers has announced plans to develop green energy vessels that would use solar power and batteries.

Globally the shipping industry emits about 3% of the world's CO2 emissions. India's efforts to cut its carbon footprint will also help in meeting the International Maritime Organization's target to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.

To boost its shipping industry, Asia's third-largest economy also plans to set up a Maritime Development Fund to help manufacture green vessels and ports, said another government official.

"We are in the initial stage of setting up the Maritime Development Fund," said R Lakshmanan, joint secretary in the federal shipping ministry, adding an announcement could be made later this year.

India plans to build green hydrogen hubs at three ports- Kandla, Thoothukudi, and Paradip, Lakshmanan said.

New Delhi has set an ambitious production target of 5 million metric tons of green hydrogen per annum by 2030.

($1 = 82.6780 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Chizu Nomiyama)