A ₹69,725 crore package and a Maritime Development Fund mark India’s renewed bid to rebuild its shipbuilding and maritime strength
Despite its vast coastline, India’s share in global shipbuilding stood at just 0.06% in 2024 — a stark reminder of lost potential
High financing costs and ageing fleets have deepened dependence on foreign-flagged vessels, weakening trade and energy security
The new policy seeks to expand India’s own fleet, revive shipyards, and position the country as an alternative in a backlogged global market
Financial aid must be matched by faster execution, single-window clearances, and partnerships in green and advanced shipbuilding technology
Reviving shipbuilding can create skilled jobs, local supply chains, and global stature. India’s maritime story is ready to move full steam ahead