Govt Unveils ₹44,700 Cr Shipbuilding Boost for 'Make in India'

• MoPSW notifies Shipbuilding Financial Assistance Scheme (SBFAS) and Shipbuilding Development Scheme (SbDS) with a combined outlay of ₹44,700 crore.
• The schemes aim to strengthen India’s domestic shipbuilding capacity, global competitiveness, and boost 'Make in India' initiative.
• SBFAS (₹24,736 crore) offers 15-25% financial assistance per vessel, establishes a National Shipbuilding Mission, and includes a Shipbreaking Credit Note.
• SbDS (₹19,989 crore) focuses on long-term capacity, supporting greenfield clusters, brownfield expansion, and an India Ship Technology Centre.
• Expected to support ₹96,000 crore projects, generate employment, and increase India's commercial shipbuilding capacity to 4.5 million gross tonnage by 2047.

Why It Matters: India's ₹44,700 Cr shipbuilding schemes aim to make it a global maritime power by 2047.