New Delhi: The Government of India has announced three major schemes worth over ₹70,000 crore aimed at revitalizing the nation’s maritime sector, with a strong focus on shipbuilding, ship repair, and port-linked infrastructure. The move is part of a broader effort to reduce dependence on foreign vessels and regain India’s position as a major maritime power.
Prime Minister Narendra Modi, unveiling the initiatives, stressed the urgent need to curb the large outflow of money spent annually on hiring foreign ships for Indian trade. He emphasized the vision of making India self-reliant “from chip to ship,” highlighting that strengthening domestic shipbuilding would not only save foreign exchange but also create jobs and boost allied industries such as steel, electronics, and engineering.
A key component of the reforms is the granting of infrastructure status to the construction of large ships. This measure will allow shipbuilders easier access to credit at lower interest rates, reducing the financial burden on the industry. Officials said the schemes would provide direct incentives for modernizing shipyards, adopting advanced technology, and upgrading design capabilities to meet international standards.
The government has also introduced new legislative reforms to update the country’s maritime framework. The Merchant Shipping Act, 2025, and the Carriage of Goods by Sea Bill, 2025, have been passed to modernize shipping laws, while further reforms to port governance and regulations are underway.
The initiatives are aligned with India’s long-term maritime vision, which includes projects under the Sagarmala programme and the Maritime Amrit Kaal Vision 2047, aiming to position India among the world’s leading maritime powers. Current estimates suggest investments worth nearly ₹80 lakh crore in the maritime sector by 2047.
Officials noted that shipbuilding has significant multiplier effects, generating large-scale employment and stimulating various industries. However, challenges remain, including skill shortages, the need for advanced technology, and competition from established global shipbuilding hubs such as China, South Korea, and Japan.
The government is also focusing on skill development through specialized training institutions and encouraging public-private partnerships to ensure the sector’s growth. Environmental compliance and adoption of green shipping technologies will form part of India’s global commitment to sustainable maritime practices.
The ₹70,000 crore schemes are expected to mark a turning point in India’s maritime strategy, with authorities optimistic that the measures will reduce reliance on foreign vessels, increase efficiency at ports, and enhance India’s strategic presence in the Indian Ocean region.