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Govt To Clear Rs 25,000-Crore Maritime Development Fund In Policy Package For Shipbuilding Sector

The policy package for the shipbuilding industry includes the Maritime Development Fund with a corpus worth Rs 25,000 crore.

NDTV Profit Desk

File Picture: Mazagon Dock Shipbuilders Ltd. is a PSU under the Ministry of Defence.  (Photo source: Pixabay) 

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Summary is AI Generated. Newsroom Reviewed

  • Cabinet likely to approve shipbuilding policy package on 24 September
  • Package includes revamped scheme with Rs 25,000 crore Maritime Development Fund
  • Fund linked to minimum 40% local content in ship construction
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The Cabinet is likely to clear a big policy package for the shipbuilding industry on Wednesday, Sept. 24, sources told NDTV Profit. The package includes a revamped financial assistance scheme with the Maritime Development Fund with a corpus worth Rs 25,000 crore.

Sources added that the Maritime funds will be linked to a minimum 40% local content in ship construction. The policy is aimed at spurring investments in India's shipbuilding ecosystem.

Notably, India faces a 25-35% cost disadvantage compared to Japan, Vietnam, and other markets. The Maritime Development Fund to promote the shipbuilding industry was announced in Union Budget in February 2025.

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