The Government of India is firmly committed to positioning the country as a global hub for shipbuilding and repair — a key driver of the blue economy — Union Minister of State for Ports, Shipping and Waterways Shri Shantanu Thakur said on Wednesday.
Thakur highlighted that India aims to be among the top 10 maritime nations by 2030 and among the top 5 by 2047.
“Shipbuilding and repair will serve as vital growth engines of India’s blue economy by generating employment, enhancing global competitiveness, and driving sustainability through green shipping and modernised infrastructure,” he said.
Maharashtra’s Minister for Fisheries & Ports Development Shri Nitesh Rane underscored the state’s pioneering role, unveiling India’s first Shipbuilding, Ship Repair and Ship Recycling Policy 2025. The policy aims to achieve one-third of India’s shipbuilding and repair targets under the Maritime India Vision 2030 (MIV 2030) and Maritime Amrit Kaal Vision 2047 (MAKV 2047).
“Maharashtra, with its 877 km coastline, two major ports, 16 non-major ports, and the upcoming Vadhavan Port, is driving this mission through six planned shipyard clusters at Dighi, Jaigarh, Dabhol, Vijaydurg, Nandgaon, and Bankot, alongside 11 stand-alone shipyards,” Rane said.
The state policy includes a 15% capital subsidy, fiscal stimulus of up to ₹5 crore (60% of project cost) for infrastructure, R&D, and upskilling, and ₹1 crore (50% of annual costs) for workforce training and recycling. These measures are expected to unlock ₹18,000 crore in investments and generate 1.4 lakh jobs by 2047.
Director General of Shipping Shri Shyam Jagannathan added that while India currently accounts for just 1% of global shipbuilding share, the government’s ambition is to raise the sector’s contribution from 4% to 12% of national GDP, and elevate India’s global ranking from 16th to 5th by 2047. He stressed the role of Indian seafarers, already representing 12% of the world’s maritime workforce, with a target of reaching 25% in the coming decades.
The government is backing this ambition through initiatives such as the ₹25,000 crore Maritime Development Fund, Shipbuilding Financial Assistance Policy 2.0 (extended till 2036), right of first refusal for Indian-built ships, incentives for green-fuel vessels, shipbreaking credit notes, and upfront subsidies of up to 30% for non-conventional builds.
Highlighting international collaboration, Royal Norwegian Consulate General in Mumbai, Monica Nagelgaard, pointed to Norway’s leadership in maritime innovation — from LNG-powered ships to hydrogen, ammonia, and methanol-fuelled vessels. She said the India-EFTA Trade and Economic Partnership Agreement would strengthen synergy between Norway’s innovation and India’s scale, talent, and investment ambitions, setting new benchmarks in sustainable maritime growth.
