maritime policy

CABINET APPROVED 4-PILLAR APPROACH TO STRENGTH SHIPBUILDING SECTOR

The Union Cabinet approved ₹69,725 crore package to empower maritime sector. Anchored on a four-pillar approach—financing, capacity, technology, and reforms—this initiative aims to make India a global shipbuilding hub. Key components include extending Shipbuilding Financial Assistance Scheme (SBFAS), establishing a ₹25,000 crore Maritime Development Fund (MDF), and creating a dedicated Shipbuilding Development Scheme (SbDS).