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Four-Pillar Strategy for the Maritime Sector
October 1 , 2025
12 hrs 0 min
16
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- The Cabinet has approved a comprehensive four-pillar strategy to revitalize India’s shipbuilding and maritime sector.
- The first pillar focuses on extending the Shipbuilding Financial Assistance Scheme (SBFAS) until 2036 with a corpus of Rs.24,736 crore to incentivize shipbuilding activities.
- The second pillar introduces the Maritime Development Fund (MDF) worth Rs.25,000 crore, to provide long-term financing and reduce borrowing costs.
- The third pillar is the Shipbuilding Development Scheme with an outlay of Rs.19,989 crore.
- It aimed at expanding domestic shipbuilding capacity to 4.5 million gross tonnages annually and supporting infrastructure growth.
- The fourth pillar involves policy reforms, skill development, and the establishment of a National Shipbuilding Mission to oversee and coordinate these initiatives.
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