India Unveils ₹25,000 Crore Maritime Development Fund

CosmicTaco · 2025-02-01T15:30:01.229896+05:30

- The government has announced a major revamp of the shipbuilding financial assistance policy to address cost disadvantages and boost the maritime sector. - A ₹25,000 crore Maritime Development Fund will be set up to provide long-term financing, with the government contributing up to 49% and the rest from ports and private players. - Shipbuilding clusters will be developed across five states with enhanced infrastructure, skilling, and technology to strengthen the ecosystem. Source: [Business News India](https://www.businesstoday.in/union-budget/video/modinomics2025-govt-revamps-shipbuilding-policy-sets-rs25000-crore-fund-462966-2025-02-01), [Asianet Newsable](https://newsable.asianetnews.com/india/union-budget-2025-maritime-development-fund-to-be-set-up-to-boost-shipbuilding-activities-sqzs7w)

The government has announced a major revamp of the shipbuilding financial assistance policy to address cost disadvantages and boost the maritime sector.
A ₹25,000 crore Maritime Development Fund will be set up to provide long-term financing, with the government contributing up to 49% and the rest from ports and private players.
Shipbuilding clusters will be developed across five states with enhanced infrastructure, skilling, and technology to strengthen the ecosystem.

Source: Business News India, Asianet Newsable