The Ministry of Ports, Shipping and Waterways (MoPSW) is preparing a new township policy to revitalise areas around Indian ports. This policy will enable the development of townships near ports, leveraging the vast vacant land available. In this regard, private players will be invited to bid for developing the real estate, starting with key ports in Mumbai, Kolkata, Chennai, and Vishakapatnam. The policy will eventually cover all ports in the country.
Besides, as a part of Make in India for inland vessels, a substantial package worth Rs 50 billion is also being prepared under a new viability gap funding (VGF) scheme. This initiative aims to encourage the construction of inland vessels, with further plans to extend support to the manufacturing of sea-bound vessels, including cruise ships.