New Delhi, Jan. 24 -- The government is set to operationalise the Rs.25,000 crore Maritime Development Fund (MDF) by allocating Rs.9,800 crore to it in the upcoming budget.

The fund aims to lower capital costs and attract long-term, low-cost investment into shipyards, coastal infrastructure, and inland waterways. The Maritime Development Fund aims to mobilise investment worth Rs.1.5 trillion in the shipping sector by 2030, which will play a key role in making India one of the top five shipbuilding and ship-owning nations in the world by 2047, from its current position as the sixteenth.

The Rs.25,000 crore MDF was announced by finance minister Nirmala Sitharaman while presenting the budget proposals for 2025-26. The cabinet approved it i...