India is charting a bold course to become a global maritime leader as the government intensifies reforms to expand and modernize its shipbuilding industry. Under the guidance of Prime Minister Narendra Modi, the sector is undergoing a massive transformation, aligned with Maritime India Vision 2030 and the broader roadmap of Amrit Kaal.
Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal shared these updates during the ongoing Monsoon Session of the Lok Sabha, emphasizing that India is doubling down on infrastructure, funding, and policy support to build a world-class shipbuilding ecosystem.
Among the major announcements in the Union Budget 2025, the government is revamping the Shipbuilding Financial Assistance Policy to offset cost disadvantages and enhance the global competitiveness of Indian shipyards.
A game-changing decision includes placing large vessels under the Infrastructure Harmonised Master List, opening them to long-term, low-interest funding and expanding access to infrastructure financing.
In a push for sustainability, credit notes will now apply to ship-breaking in Indian yards,&nbsp; supporting a circular maritime economy. Simultaneously, integrated shipbuilding clusters will be established, equipped with cutting-edge technologies and skill development hubs to boost capacity and efficiency.
To meet the capital demands of this long-gestation industry, the government has proposed a ₹25,000 crore Maritime Development Fund, with 49% of it backed by government participation. This fund aims to draw private and port-led investments to reinforce India's shipbuilding and repair capabilities.
Further, tax exemptions on Basic Customs Duty for shipbuilding-related materials have been extended for 10 years, giving manufacturers greater relief and stability.
Reinforcing the Make in India initiative, the government has extended the Right of First Refusal (ROFR) to Indian shipyards in public sector tenders. As per the Public Procurement Order 2017, ships valued under ₹200 crore must be sourced domestically,&nbsp; a strong move towards maritime self-reliance.
On the ship repair front, the recently inaugurated International Ship Repair Facility (ISRF) at Cochin Shipyard, worth ₹970 crore, marks another step in positioning India as a go to destination for global maritime needs.
India&rsquo;s commitment to developing a modern, competitive, and sustainable maritime economy is clear. With a combination of strategic reforms, financial instruments, and policy backing, the country is not just catching up,&nbsp; it is aiming to lead the global shipbuilding race.

India Boosts Shipbuilding to Global Scale

India accelerates shipbuilding reforms to become a global maritime powerhouse by 2030

India Boosts Shipbuilding to Global Scale

India accelerates shipbuilding reforms to become a global maritime powerhouse by 2030

August 2, 2025 | 10:05 IST