New Delhi, Feb. 1 -- The government has proposed infrastructure status for large ships to promote ship ownership and shipbuilding in the country and make India one of the top five countries in these areas by 2047.

In her Budget speech for 2025-26 on Saturday, finance minister Nirmala Sitharaman said ships above a specified size will be included in the harmonised master list (HML) for infrastructure. This means purchases of large ships will grant buyers the same benefits that shipbuilders currently receive.

Infrastructure status will allow shipping entities to secure funds with easier financial terms, longer repayment periods, and lower rates from commercial banks. This will make it easier to buy ships from Indian shipyards and raise Ind...