India, Sept. 25 -- The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved a comprehensive package worth Rs 69,725 crore to revitalise India's shipbuilding and maritime ecosystem, recognising the sector's strategic and economic importance. This initiative introduces a four-pillar approach designed to strengthen domestic capacity, improve long-term financing, promote greenfield and brownfield shipyard development, enhance technical capabilities and skilling, and implement legal, taxation and policy reforms to build a robust maritime infrastructure.
As part of this package, the Shipbuilding Financial Assistance Scheme (SBFAS) will be extended until 31 March 2036 with a total corpus of Rs 24,736 crore, including a Shipbr...