India to invest ₹70,000cr in shipbuilding, port infrastructure
India is gearing up to roll out a massive ₹70,000 crore boost for shipbuilding and port infrastructure, with Cabinet approval expected soon.
The plan includes ₹20,000 crore each for new shipping clusters and a Ship Building Financial Assistance (SBFA) scheme, plus another ₹25,000-30,000 crore set aside for a Maritime Development Fund (MDF).
The plan is to make Indian shipyards more competitive
The goal is to make Indian shipyards more competitive by offering financial support and modern infrastructure, which could lead to better jobs and tech upgrades.
The SBFA will provide incentives starting April 2026, while the MDF offers flexible financing to attract investors.
Shipbuilding hubs are planned in states like Andhra Pradesh, Odisha, Tamil Nadu, Gujarat, and Maharashtra—possibly teaming up with Japanese and Korean companies.
It's all part of the Atmanirbhar Bharat push to see more Indian-built ships sailing by 2047.