New Delhi, Oct. 16 -- India has decided to include large ships in the Harmonised Master List (HML) of infrastructure subsectors, a landmark decision that grants infrastructure status to the country's shipping sector, bringing it on par with other core sectors such as roads, ports and power.

The measure aims to unlock long-term, low-cost finance availability for shipowners and shipbuilders, strengthen India's maritime capabilities and push the country closer to its vision of becoming a global maritime power by 2047. Mint explains how the development can be a gamechanger for the shipping sector.

The government has officially classified large ships as part of the infrastructure sector by including them in the Harmonised Master List (HML) m...