Dr. Harry S. Banga and Mr. Angad Banga of The Caravel Group acquire India’s premier maritime academy to develop the next generation of global maritime talent, strengthen training and innovation
Noida, India – March 12, 2025 – Dr. Harry S. Banga and Mr. Angad Banga of The Caravel Group proudly announce their acquisition of the International Maritime Institute (IMI), India’s premier maritime academy. This initiative in the not-for-profit segment reinforces The Caravel Group’s commitment to developing the next generation of global maritime professionals and ensuring the industry’s long-term sustainability.
The maritime industry is facing an urgent challenge to attract and develop young talent to sustain global shipping operations. Through this acquisition, The Caravel Group is making a long-term investment in the education and development of maritime professionals and creating lifelong career opportunities for the next generation.
In addition to its commitment to future seafarers, the Group will leverage IMI’s capabilities to strengthen the training available to its 28,000-strong global workforce, ensuring that present officers, crew members and onshore professionals remain at the forefront of industry advancements.
Dr. Harry S. Banga, Chairman and CEO of The Caravel Group, stated: “Seafarers are the backbone of global trade, and investing in their education is not just a responsibility—it is a necessity. By bringing IMI into The Caravel Group, we are ensuring that maritime professionals receive a world-class education, equipping them for successful careers at sea.”
Developing the Future Generation of Seafarers
With 90% of world trade transported by sea, the maritime industry depends on well-trained professionals to move the ships that deliver the goods and commodities that economies rely on. This investment ensures that the next generation of seafarers is fully prepared to navigate modern fleets, comply with evolving regulations, and operate the advanced technologies that the industry will need onboard ships in the future.
Mr. Angad Banga, COO of The Caravel Group, emphasised the importance of the latest addition to The Caravel Group’s maritime business: “Our industry is undergoing rapid transformation, with digitalisation, automation, and sustainability reshaping the way ships are operated. IMI will play a crucial role in ensuring that seafarers are equipped with the skills they need to excel.”
Through IMI, The Caravel Group will provide world-class maritime education, expand career pathways for aspiring cadets and marine engineers. This acquisition ensures that IMI remains a leader in maritime education and continues to produce highly skilled talent for the international shipping industry.
IMI will continue to develop future ship officers through its renowned pre-sea training programmes, while also introducing specialised courses in emerging maritime technologies, alternative fuels, and sustainability-driven operations. The institute will remain at the forefront of maritime education, ensuring cadets are prepared for the challenges of the modern shipping industry.
Strengthening Training for Existing Maritime Professionals
The Caravel Group will apply IMI’s knowledge and expertise to advance the learning and development programmes on offer to its 28,000-strong workforce across Fleet Management Limited and other maritime operations. This will include advanced simulator training, as well as specialised courses in alternative fuels, emissions reduction, and digital navigation. The Caravel Group will also expand leadership programmes to support career progression from cadet training to senior command roles.
Dr. Harry S. Banga, a qualified Master Mariner himself, added: “The lessons that I learned at the Training Ship (T.S.) Dufferinhave stayed with me throughout my career. It is vital that we create opportunities for the next generation to learn and succeed.”
