Cos keen to invest ₹15K cr in greenfield shipbuilding clusters: Sonowal

Several existing Indian shipyards on both the east and west coasts have come forward to seek assistance under the brownfield capacity expansion program, says Sonowal

The Union Cabinet on Wednesday passed what the government called the “biggest maritime reform since independence”, approving a ₹69,725 crore support package to build indigenous shipbuilding capabilities in India. The shipping ministry hopes to attract big local and global shipyards to set up three mega shipbuilding clusters, which will help in the goal of delivering 2,500 new vessels, and it has received investment commitments of up to ₹15,000 crore from major players, Shipping Minister Sarbananda Sonowal tells Dhruvaksh Saha in an email interview. Edited excerpts: 

What is the government’s vision behind the ₹70,000 crore programme?