Cabinet Approves ₹69,725-Crore Shipbuilding & Maritime Development Plan | 4-Pillar Strategy

The Union Cabinet, led by Prime Minister Narendra Modi, has cleared a massive ₹69,725-crore package to transform India’s shipbuilding and maritime sector. Central to this initiative is the Shipbuilding Development Scheme, with an outlay of ₹19,989 crore, targeted at expanding domestic shipbuilding capacity to 4.5 million Gross Tonnage. Built on a four-pillar approach, the plan will boost domestic capacity, provide long-term financing, promote greenfield and brownfield shipyard development, enhance skilling and technical know-how, and introduce legal, taxation, and policy reforms. Information and Broadcasting Minister Ashwini Vaishnaw stated that this ambitious programme will create a robust maritime infrastructure and strengthen India’s global standing in shipbuilding.