New Delhi, July 25: The government has announced a major support package of Rs 69,725 crore aimed at strengthening India’s shipbuilding industry, enhancing maritime financing and accelerating growth in the country’s blue economy.
The initiative is expected to provide a significant boost to domestic shipyards, improve competitiveness and encourage greater participation in the global maritime sector. It will also help create a stronger ecosystem for ship construction, repair and related industries.
The package focuses on improving access to finance, supporting capacity expansion and promoting innovation in the shipbuilding sector. By addressing key challenges faced by the industry, the move aims to reduce dependence on foreign shipbuilding capabilities and position India as a major maritime hub.
The government said the initiative will generate new employment opportunities, support ancillary industries and contribute to the growth of coastal economies.
With India’s strategic location and expanding maritime trade, the package is expected to play a crucial role in strengthening the country’s shipping infrastructure and advancing its vision of becoming a global leader in the maritime sector.
