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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)
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