INDIA TO DOUBLE IT'S SHIPBUILDING CAPACITY IN ORDER TO BECOME A GOLBAL MARITIME POWER
The shipbuilding industry in India is undergoing a transformational shift as the government is accelerating efforts to build a world-class maritime ecosystem. In line with the Maritime India Vision 2030 and the long-term strategic roadmap of Amrit Kaal, the Union Budget 2025 has announced a series of reforms and investments aimed at significantly enhancing the capacity and competitiveness of Indian shipyards. Moreover, the "Shipbuilding Financial Assistance Policy" is being revamped to address cost disadvantages thereby helping Indian shipyards compete on equal footing with their international counterparts.
In order to boost infrastructure financing, large ships above a specified size will now be classified under the Infrastructure Harmonised Master List, thereby making them eligible for long-term and low-interest funding. Simultaneously, the government will facilitate the development of integrated shipbuilding clusters, equipped with modern infrastructure, skill development centres, and advanced technologies. This is aimed at increasing capacity of ships being built in India.
As per the Public Procurement (Preference to Make in India) Order 2017, vessels valued under Rs 200 crore must be procured from Indian shipyards, thereby reinforcing the goal of self-reliance in maritime assets. Some of the listed stocks that will benefit out of this policy are