India to nearly triple maritime development fund

Business Aug 14, 2025

India is set to nearly triple its Maritime Development Fund (MDF) to ₹70,000 crore, aiming to upgrade shipyards, repair hubs, and expand shipping and port infrastructure.
The move has already cleared a key finance committee and just needs Cabinet approval.

Funding push to help India become global shipbuilding hub

This funding push is part of India's goal to become a top global shipbuilding hub by 2047.
The government has mapped out up to $940 billion in maritime investments—including green ships and next-gen ports—with the MDF using both government and international funds.
New policies and support schemes are also rolling out to help Indian shipbuilders climb the global ranks.