What happened?
As part of Maritime India Vision 2030, the government has set a target to place India among the top 10 shipbuilding nations by 2030 and top 5 by 2047 under the Amrit Kaal Vision. On January 29, 2025, the Ministry of Ports, Shipping and Waterways amended the Shipbuilding Financial Assistance Policy (SBFAP) to encourage greater participation in shipbuilding. Other measures include the Green Tug Transition Programme (GTTP) and updated Right of First Refusal (RoFR) guidelines for vessel procurement to promote domestic shipyards.
Why it matters to India
A stronger shipbuilding industry enhances India’s maritime economy and reduces reliance on foreign-built vessels. The government’s push for indigenous shipbuilding under Make in India will create jobs, boost technological advancements, and improve India’s competitiveness in global ship manufacturing. Green initiatives align with India’s climate commitments, fostering sustainable maritime operations.