GOVERNMENT SET TO BOOST INDIAN SHIPBUILDING INDUSTRY

The government has notified guidelines for two major shipbuilding initiatives with a total outlay of over Rs 44,700 crore. The two initiatives, namely Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS), are aimed at strengthening the country's domestic shipbuilding capacity and improving global competitiveness. With the creation of modern infrastructure and a skilled workforce, commercial shipbuilding capacity is projected to rise to about 4.5 million gross tonnage per annum by 2047. This boost is set to benefit stocks like

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