The Ministry of Ports, Shipping and Waterways (MoPSW) is developing a new shipbuilding scheme to incentivize Indian shipyards until 2035, aiming to rank among the top 10 shipbuilding nations by 2030 and the top five by 2047. Global cruise operator MSC Cruises has shown interest in deploying ships domestically. MoPSW is also exploring a joint venture between the Shipping Corporation of India and oil marketing companies for large tankers. Additionally, the ministry will offer financial support for vessels using green fuels or electric/hybrid propulsion systems. The policy signals strong growth potential in India’s shipbuilding sector and enhanced opportunities in green shipping technologies.
India Aims for Top Shipbuilding Nations
