The Indian government revamps the Shipbuilding Financial Assistance Policy with a ₹25,000 crore Maritime Development Fund to boost the shipbuilding industry.


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The Indian government has announced a major revamp of the Shipbuilding Financial Assistance Policy, aimed at boosting the shipbuilding industry in the country. A new Maritime Development Fund has been established with a total corpus of ₹25,000 crore. This fund is designed to provide financial support to the shipbuilding sector, encouraging growth and innovation.

  • ₹25,000 Crore Fund: The Maritime Development Fund will have a total corpus of ₹25,000 crore to support shipbuilding initiatives.
  • Government Contribution: The government will contribute 49% of the total fund, ensuring substantial support to the industry.
  • Boost to Shipbuilding: This move is aimed at strengthening India’s position in the global shipbuilding market and increasing domestic production.
  • Industry Growth: The new policy is expected to attract investments, create jobs, and enhance the country’s maritime capabilities.

The revamped policy will provide financial aid to shipbuilders, making it easier for them to access the necessary funds for growth. This initiative will help India become a leader in the global maritime industry.

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