The Indian government is likely to approve a ₹25,000 crore Maritime Development Fund to boost shipbuilding and maritime infrastructure. Key Points: Support for Shipbuilding: The fund aims to promote domestic ship construction and reduce reliance on foreign vessels. Long-term Loans: It will offer loans of up to 25 years to support shipbuilding projects. Focus on Growth: The initiative aligns with the Make-in-India campaign and aims to enhance cruise tourism and port development. Current Fleet: India has 1,526 vessels, with many being over 20 years old, highlighting the need for modernization. Market Share Goal: The fund aims to increase India's share of the global shipbuilding market from less than 1% to 5%. Approval of the fund is expected soon, with a cabinet note to be submitted by the end of September 2025.

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