The government has announced a second-phase financial support plan of ₹20,000 crore to boost the shipbuilding sector, under which four new greenfield shipyards and repair hubs will be developed over the next six years. This initiative is an effort to extend the scope of the ‘Make in India’ campaign to the maritime economy and appears to be a meaningful first step towards reducing dependence on foreign countries.
This initiative could enhance employment opportunities along India’s coastline and improve the capacity to meet domestic demand. However, these benefits will remain superficial unless the speed, transparency, and quality control of the construction process are ensured. The proposed mega shipyards in Tamil Nadu, Gujarat, and Andhra Pradesh confirm this vision, but they also raise the question of whether promises of partnerships with the private sector will be fulfilled on time.
According to the Reserve Bank of India’s credit agency ICRA, the budget has introduced necessary reforms to the shipbuilding policy, but concerns remain over long-term investment and financial stability. Meanwhile, analysis by UPSC preparation platform Examarc suggests that while many funds and subsidy schemes announced in recent years looked impressive on paper, their slow implementation on the ground has limited their benefits.
Globally, countries like China and South Korea have long established their shipbuilding strongholds with investments worth billions of dollars. India’s announcement is bold, but also challenging—especially since the allocated budget appears relatively small when measured against global competition.
The true benchmark of this policy will be revealed when enterprises receive credit, projects are completed on time, and India’s shipbuilding capacity translates into exports that earn foreign exchange. Only then will it be clear whether the ₹20,000 crore policy is merely a statistical narrative of self-reliance or the beginning of a genuinely self-sufficient maritime chapter.
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