Ship-building industry being globalised in nature, the present global downturn has also affected the domestic ship-building industry. The ship-building subsidy scheme was extended to all Indian shipyards on October 25, 2002. The subsidy scheme expired in 2007. The Government decided to liquidate the committed liabilities in the year 2009 for all the cases for which contracts had been signed by August 14, 2007, for another five years starting from the year 2009 and ending March 31, 2014 and accordingly, ship-building subsidy was released to Indian shipyards till March 31, 2014. The major suggestions received by the Government of India from various stakeholders for promotion of local ship-building industry includes measures for financial assistance; grant of infrastructure status; domestic eligibility criteria; tax incentives and special dispensation for stressed shipyards. No time-lines for implementation can be given at this stage.
This information was given by Minister of State for Shipping, Shri Pon Radhakrishnan in a written reply to a question in Lok Sabha today.
This information was given by Minister of State for Shipping, Shri Pon Radhakrishnan in a written reply to a question in Lok Sabha today.
