Economy & Infrastructure
The Union Cabinet has cleared a ₹69,725 crore package for revitalising India’s shipbuilding and maritime sector, structured around four key pillars.
Pillar 1 – Shipbuilding Financial Assistance Scheme (SBFAS): Extended till 31 March 2036 with a ₹24,736 crore corpus. Includes a Shipbreaking Credit Note worth ₹4,001 crore to incentivise Indian shipyards.
Pillar 2 – Maritime Development Fund (MDF): A ₹25,000 crore corpus to provide long-term financing. It will include a ₹20,000 crore Maritime Investment Fund with 49% Government of India equity and a ₹5,000 crore Interest Incentivisation Fund.
Pillar 3 – Shipbuilding Development Scheme (SbDS): With an outlay of ₹19,989 crore, this scheme will expand shipbuilding capacity, support mega clusters, establish the India Ship Technology Centre, and provide insurance and risk coverage.
Pillar 4 – National Shipbuilding Mission & Reforms: Designed to coordinate schemes and monitor progress. Focus areas include greenfield and brownfield shipyards, skill development, taxation reforms, and strengthening of the legal framework.
This four-pronged strategy is expected to modernise India’s maritime infrastructure, enhance indigenous capacity, and position India as a global hub for green and advanced shipbuilding.
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