The central government has granted infrastructure status to the shipbuilding industry. This is expected to reduce borrowing costs and will enable shipyards and domestic manufacturers to get long-term loans for 20-25 years, as well as to access overseas loans. The industry’s demand for infrastructure status has been pending for over a decade. The status will also give an impetus to the Make in India initiative and is expected to help the shipbuilding industry raise its share in the global market to 5 per cent by 2020 from less than 1 per cent at present.