India to invest ₹75,000cr in shipbuilding clusters on both coasts
India is set to invest a massive ₹75,000 crore over the next 4-5 years to build three new shipbuilding clusters on both the east and west coasts.
The goal? To make India a major player in global shipbuilding and boost its own fleet by 2047.
Maritime India Vision 2030 and 2047
The first clusters are coming up in Tamil Nadu, Gujarat, and Odisha—land has been identified across five coastal states.
It's all part of Maritime India Vision 2030 and 2047, aiming to take Indian-built ships from just 5% of the domestic fleet now to an ambitious 69% by 2047.
Funding and foreign partnerships on the cards
The government has lined up serious funding: ₹25,000 crore for a Maritime Development Fund in FY26 and another ₹18,090 crore under Shipbuilding Financial Assistance Policy 2.0.
There are also plans for joint ventures with top Korean, Japanese, and Scandinavian shipbuilders—think greener ships, more jobs, and new skills for young Indians looking at maritime careers.