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
Policy Regulation
US Tariff Cut Lifts Apparel Outlook; Diamonds Stay Negative: ICRA
ICRA says US tariff cuts to 18 per cent offer relief to exporters, restores Stable outlook on apparel, but retains Negative outlook on cut and polished diamonds.
Read moreAuto & Auto Components
Stellantis, Tata Motors Mark 20 Years of FIAPL Partnership
Stellantis and Tata Motors Passenger Vehicles celebrate 20 years of FIAPL and sign an MoU to expand collaboration in manufacturing, engineering and supply chain.
Read moreElectrical & Electronics
IEMI 2026 Concludes with Strong Industry and Defence Outcomes
IEMI 2026 concluded in Bengaluru with over 1,800 delegates, key MoU signings, industry reports, and global participation reinforcing India’s electronics manufacturing ambitions.
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
