India to invest ₹3 lakh crore in shipbuilding by 2030, boosting defense exports and private sector role.

India plans a ₹3 lakh crore investment to boost shipbuilding under its Maritime Vision 2030 and 2047, with Defense Minister Rajnath Singh emphasizing self-reliance amid global instability. Defense exports are projected to reach ₹29,000 crore by April 2026, up from ₹24,000 crore in FY 2024–25, with a long-term goal of ₹50,000 crore by 2029–30. The government is modernizing shipyards using digital tools and modular construction, expanding private sector involvement to 50% of production value, and supporting MSMEs and startups through defense corridors, streamlined processes, and access to research labs.