India Unveils Rs 44,700 Cr Shipbuilding Boost, Targets 2047 Capacity Leap

• Ministry of Ports, Shipping and Waterways (MoPSW) rolls out two initiatives worth Rs 44,700 crore to boost shipbuilding.
• Schemes include Shipbuilding Financial Assistance Scheme (SBFAS) with Rs 24,736 Cr and Shipbuilding Development Scheme (SbDS) with Rs 19,989 Cr.
• SBFAS offers 15-25% financial assistance per vessel; SbDS focuses on long-term capacity and capability creation.
• Aims to revive domestic shipbuilding, enhance global competitiveness, generate employment, and establish a National Shipbuilding Mission.
• Introduces shipbreaking credit notes for a circular economy and targets 4.5 million gross tonnage capacity by 2047.

Why It Matters: India's massive shipbuilding investment aims for self-reliance, global competitiveness, and a 2047 capacity goal.