India Sets Sail for Growth: ₹30,000 Crore Maritime Development Fund to Revolutionize Shipbuilding

Finance Minister Nirmala Sitharaman is presenting the Union Budget 2025, which includes significant focus on the maritime sector. The government is expected to announce the establishment of a Maritime Development Fund (MDF) with a corpus of ₹30,000 crore to support indigenous shipbuilding and maritime projects. This initiative aims to enhance India's shipping capabilities and reduce dependency on foreign vessels. The budget session is also anticipated to highlight investments in port infrastructure and customs duty exemptions for shipbuilding materials, fostering growth in the sector. 

 

Source: Upstox, India TV News, Economic Times