India’s shipbuilding industry, once rooted in the historic Bombay Dockyard and the ancient maritime centre of Lothal, is witnessing a renewed wave of attention. With the launch of India Maritime Week 2025 and a massive ₹69,725 crore stimulus package for the maritime sector, the nation is charting a new course toward becoming a global shipbuilding hub.
The package includes a ₹25,000 crore Maritime Development Fund and ₹24,736 crore allocated under the Shipbuilding Financial Assistance Scheme. Despite having an extensive 11,000 km coastline, India’s contribution to global shipbuilding tonnage stands at only 0.06% (UNCTAD, 2024), underlining the vast potential for growth.
The Ministry of Ports, Shipping and Waterways has adopted a strategic approach to revitalise India’s maritime capabilities. The new thrust aims to:
Globally, China, South Korea, and Japan dominate nearly 95% of total shipbuilding output. However, India’s competitive labour costs, growing technical base, and government incentives present an opportunity to attract global orders and foreign collaboration.
The newly launched Maritime Development Fund (MDF) aims to provide long-term, low-interest financing for Indian shipyards. It also supports modernization of infrastructure, workforce training, and indigenous production of marine components. A single-window clearance system and enhanced coordination among stakeholders are expected to streamline project approvals and investment flows.
One of the most promising collaborations—between Cochin Shipyard Ltd and HD Korea Shipbuilding—demonstrates the potential of combining India’s shipbuilding infrastructure with Korea’s technological innovation, fostering knowledge exchange and capacity building.
The shipbuilding sector can become a major employment generator by strengthening local supply chains in areas such as:
With the global transition toward green propulsion and maritime decarbonisation, India’s emphasis on sustainable ship design, energy efficiency, and technology transfer will be crucial. Developing expertise in low-emission fuels and smart ship technologies can enhance India’s competitiveness in the global market.
Under India’s Vision 2047, the country aspires to rank among the world’s top five shipbuilding powers. Achieving this goal will require consistent policy execution, private sector participation, and a focus on innovation-led growth.
From ancient dockyards to modern shipyards, India’s maritime journey reflects a remarkable continuity of ambition. The real challenge now lies in implementation—ensuring that the nation not only sails with history behind it but also with momentum toward a self-reliant maritime future.
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