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flag India launches ₹44,700 crore shipbuilding schemes to boost domestic production and reach 4.5 million GT capacity by 2047.

flag India has launched two shipbuilding initiatives worth ₹44,700 crore to boost domestic manufacturing and maritime capabilities. flag The Shipbuilding Financial Assistance Scheme offers 15% to 25% funding per vessel with milestone-based disbursements, aiming to support projects worth ₹96,000 crore. flag The Shipbuilding Development Scheme provides 100% capital support for new shipyards and 25% for upgrades, including a new technology center and credit risk insurance. flag Both schemes, valid until 2036 with possible extension, aim to raise India’s shipbuilding capacity to 4.5 million gross tonnage annually by 2047, supporting 'Make in India' and self-reliance goals.

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