To join shipbuilding big league, govt to pump in Rs 70,000 crore | India News
The Indian government has announced a major investment of ₹70,000 crore to accelerate the country’s entry into the global shipbuilding league. This initiative aims to strengthen India’s naval capabilities, expand commercial ship production, and attract international clients to its shipyards. With rising demand for advanced vessels and maritime infrastructure worldwide, India is positioning itself as a competitive player in the industry. The funding will support modernizing shipyards, upgrading technology, and creating skilled jobs in the sector. Officials believe this move will reduce dependence on foreign suppliers while boosting exports and self-reliance. The program also seeks to integrate Indian shipbuilders into global supply chains and encourage public-private partnerships for large-scale projects. With this ambitious plan, India hopes to compete with established shipbuilding nations like South Korea, Japan, and China, while strengthening its strategic and economic influence in the Indo-Pacific region.
The Key points
- Govt commits ₹70,000 crore to boost shipbuilding.
- Aim to make India a global shipbuilding hub.
- Focus on naval and commercial vessel production.
- Modernization of shipyards and advanced technology upgrades.
- Initiative to create thousands of skilled jobs.
- Push to reduce reliance on foreign ship imports.
- Strengthening India’s role in Indo-Pacific maritime security.
- Encouragement for public-private partnerships in shipbuilding.
- Plan to expand exports and global supply chain integration.
- Strategy to rival South Korea, Japan, and China in shipbuilding.
Disclaimer: This preview includes title, image, and description automatically sourced from the original website (timesofindia.indiatimes.com) using publicly available metadata / OG tags. All rights, including copyright and content ownership, remain with the original publisher. If you are the content owner and wish to request removal, please contact us from your official email to no_reply@newspaperhunt.com.
