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India launches ₹77,000 crore plan to build domestic ships and ports, reducing foreign trade dependence.
India is launching a ₹77,000 crore initiative to reduce its reliance on foreign ships for over 90% of maritime trade, a move aimed at addressing a strategic vulnerability.
The government is boosting shipbuilding, port infrastructure, and ship flagging, granting ships infrastructure status and updating ownership laws to attract investment.
Officials, including PMEAC member Sanjeev Sanyal, stress that a strong domestic merchant fleet is essential for economic security, job creation in steel and engineering, and long-term trade resilience, especially amid new free trade agreements.
West Bengal is expected to benefit significantly due to its port and shipbuilding assets.
India lanza un plan de ₹ 77,000 crore para construir buques y puertos domésticos, reduciendo la dependencia del comercio exterior.