Cabinet gives green light to massive ₹69,725cr shipbuilding boost
India just okayed a huge ₹69,725 crore package to supercharge its shipbuilding industry.
The plan is to ramp up capacity from just over 0.1 million gross tons to 4.5 million gross tons in the coming years—think way more ships built right here at home.
This move could bring in ₹4.5 lakh crore in investments and open up about 30 lakh new jobs across the maritime sector.
Why should you care?
This isn't just about building ships—it's about giving India a real shot at joining the world's top shipbuilders by 2047.
The package bundles subsidies for new vessels, a big development fund, and tax breaks for 10 years, making it easier and cheaper for Indian yards to compete globally.
Expect bigger ports, thousands of new ships, and lots more opportunities if you're eyeing careers linked to tech, engineering, or logistics—basically helping put India on the global map for shipbuilding innovation.