Schedule a Call Back
MoPSW to develop new shipbuilding scheme to incentivise Indian shipyards till 2035
Industry News- Aug 09,24
Additionally, global cruise giant MSC Cruises has shown interest in deploying ships for domestic routes in India.
The Ministry of Ports, Shipping and Waterways (MoPSW) is developing a new shipbuilding scheme aimed at incentivising Indian shipyards until 2035. Ports, Shipping and Waterways Secretary T.K. Ramachandran announced that the policy seeks to elevate India from its current 22nd position to among the top 10 shipbuilding nations by 2030 and the top five by 2047.
“This scheme will provide various incentives to boost Indian shipyards through to 2035,” Ramachandran told the source.
Additionally, global cruise giant MSC Cruises has shown interest in deploying ships for domestic routes in India. The MoPSW, in collaboration with the Ministry of Petroleum and Natural Gas, is also exploring a joint venture between Shipping Corporation of India (SCI) and oil marketing companies to manage large tankers. The ownership model will be determined based on demand and market conditions.
(PTI & ET)
Related Stories
Electrical & Electronics
Titan Intech Partners with APEDB for Rs 2.5 Bn Display in Amaravati
The new facility will enhance India’s electronics manufacturing capabilities, focusing on next-generation display technologies and boosting local employment.
Read moreProcess Equipment
Vipul Organics Automotive Organic Intermediates Exports Cross Rs 40 Million
Cumulative exports of this high value speciality intermediate have now crossed Rs 40 million, marking a strong and steady scale-up in global demand.
Read moreElectrical & Electronics
Electronics Sector Targets USD 500 Bn Output by 2030
India’s electronics industry expects strong growth driven by FTAs and incentives.
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
