India plans overseas roadshows in Japan, South Korea and Scandinavia to attract shipbuilding, repair and maritime tech investment as part of a ₹70,000-crore package including a ₹25,000-crore Maritime Development Fund and incentives for ship recycling and green vessels.
₹25,000 Crore Maritime Fund to Boost Shipbuilding
India has kicked off a high-ambition push to revive its shipbuilding and maritime services sector by organising overseas roadshows aimed at Japan, South Korea and Scandinavian investors. The ports, shipping and waterways ministry plans targeted delegations of government officials and industry players to secure commitments for shipbuilding, repair, breaking and maritime technology partnerships. The move follows the Centre’s approval of a broad ₹70,000-crore financial package to rebuild India’s maritime industrial base.
The financially heavy package includes a ₹25,000-crore Maritime Development Fund, a ₹25,000-crore shipbuilding financial assistance (SBFA) scheme and around ₹20,000 crore for ship cluster development to create dedicated industrial corridors. Policymakers aim to attract Korean and Japanese shipbuilders to set up facilities or joint ventures in India, and to leverage Scandinavian expertise in green-ship technology and low-emission designs. The effort is pitched as a mix of fiscal incentives, policy support and technology transfer to jump-start domestic capacity.
Officials told Mint the roadshows will be mission-mode events held across late this fiscal and early next year, focusing on concrete investment proposals rather than broad promotion. The government wants India back among the world’s top 10 shipbuilding nations by 2030 and in the top five by 2047 under the Amrit Kaal Vision 2047 — targets that will require fast-tracked infrastructure, graded shipyards and simplified customs procedures for spares and imports.
