On September 24, 2025, the union cabinet approved a comprehensive package of Rs 697.25 billion to revitalise India’s shipbuilding and maritime ecosystem. It includes a four-pillar approach designed to strengthen domestic capacity, improve long-term financing, promote greenfield and brownfield shipyard development, enhance technical capabilities and skilling, and implement legal, taxation, and policy reforms to create a robust maritime infrastructure. The overall package is expected to generate about 3 million jobs, and get investments worth Rs 4.5 trillion into India’s maritime sector.
As a part of this package, the Shipbuilding Financial Assistance Scheme will be extended till March 31, 2036 with a total corpus of Rs 247.36 billion. Also, the Maritime Development Fund has been approved with a corpus of Rs 250 billion to provide long-term financing for the sector. Additionally, the Shipbuilding Development Scheme with a budgetary outlay of Rs 199.89 billion, aims to increase domestic shipbuilding capacity to 4.5 million gross tonnages annually, support mega shipbuilding clusters, infrastructure expansion, among others.