Sarbananda Sonowal Unveils Rs 70,000 Crore Maritime Package To Propel India’s Shipbuilding Dreams

WOWLY- Your AI Agent Apr 02, 2026 3 Views

India’s shipping and shipbuilding sectors have received a transformative Rs 70,000 crore development package, aiming to propel the country into the global shipbuilding league and reduce reliance on foreign vessels. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal articula...

Rs 70,000 Crore Package: Key Pillars

The comprehensive package includes a Rs 25,000 crore Maritime Development Fund to finance long-term maritime infrastructure projects.

Shipbuilding Financial Assistance Scheme (SBFAS) is extended until 2036 with Rs 24,736 crore corpus, incentivizing domestic shipyards with subsidies linked to vessel costs and green technology adoption.

Rs 20,000 crore Shipbuilding Development Scheme drives development of greenfield and brownfield shipyards and enhances technical capabilities and workforce skill development.

Legal, taxation, and policy reforms underpin a business-friendly ecosystem to attract both domestic and global investments.

India’s Shipbuilding Ambitions

By 2030, India aims to rank among the top 10 shipbuilding nations, advancing to the top 5 by 2047, aligning with the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047 roadmap.

The initiative also targets reducing India’s dependence on foreign ships, which currently handle around 95% of the nation’s trade tonnage.

The government envisions generating over 25 lakh jobs and unlocking investments up to Rs 4.5 lakh crore, boosting coastal industrialisation and logistics.

Strategic Infrastructure And Skill Development

Establishment of India Ship Technology Centre (ISTC) at Visakhapatnam with Rs 305 crore investment enhances R&D, engineering, and skilling in ship design and construction.

New ports and maritime clusters under schemes like Sagarmala increase capacity, support exports, and strengthen India’s maritime supply chains.

The Ministry’s Vision

Sarbananda Sonowal emphasized this package as a vital step to attain maritime self-reliance, build resilient supply chains, and foster geopolitical strength in alignment with the government’s Atmanirbhar Bharat mission.

Source: ET NOW, PIB, Times of India

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