New Delhi, Mar 10: The Ministry of Ports, Shipping and Waterways has announced several financial assistance schemes to strengthen India’s shipbuilding industry, officials said on Tuesday.
In a post on X, as per news agency Kashmir News Corner — KNC, the government highlighted the creation of a dedicated long-term funding mechanism, liberalised foreign direct investment (FDI) norms, and promotion of the Public-Private Partnership (PPP) model to accelerate growth in the sector.
Under the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, investments worth approximately ₹3 lakh crore are planned to develop world-class shipbuilding clusters. The initiative aims to foster a robust ecosystem where MSMEs, start-ups, and indigenous vendors contribute to innovation, efficiency, and risk mitigation.
To further support the sector, the government has already approved a ₹69,725 crore package for shipbuilding, reinforcing India’s ambition to emerge as a global hub for shipbuilding and maritime manufacturing. (KNC)
