India transforms its shipbuilding sector through strategic government initiatives under Prime Minister Modi's leadership. Minister Sarbananda Sonowal announced these developments during the Lok Sabha monsoon session. The Maritime India Vision 2030 guides this comprehensive modernization effort. Budget 2025 introduces substantial reforms to enhance yard competitiveness globally. These measures position India as an emerging maritime powerhouse.
The government revamps its Shipbuilding Financial Assistance Policy to eliminate cost disadvantages faced by domestic yards. A proposed Maritime Development Fund worth Rs 25,000 crore will mobilize private investments with government contributing up to 49 percent. Tax exemptions on raw materials extend for another decade to support long-term industry growth. Integrated shipbuilding clusters will receive modern infrastructure and advanced technology upgrades. Public procurement rules mandate vessels under Rs 200 crore must come from Indian manufacturers.
Cochin Shipyard Limited inaugurated a Rs 970 crore International Ship Repair Facility in Kochi. The Right of First Refusal extends to public sector tenders for domestic shipbuilders. These initiatives strengthen India's self-reliance in maritime assets and repair capabilities.
The government revamps its Shipbuilding Financial Assistance Policy to eliminate cost disadvantages faced by domestic yards. A proposed Maritime Development Fund worth Rs 25,000 crore will mobilize private investments with government contributing up to 49 percent. Tax exemptions on raw materials extend for another decade to support long-term industry growth. Integrated shipbuilding clusters will receive modern infrastructure and advanced technology upgrades. Public procurement rules mandate vessels under Rs 200 crore must come from Indian manufacturers.
Cochin Shipyard Limited inaugurated a Rs 970 crore International Ship Repair Facility in Kochi. The Right of First Refusal extends to public sector tenders for domestic shipbuilders. These initiatives strengthen India's self-reliance in maritime assets and repair capabilities.
