India is charting a bold new course in maritime infrastructure with an ambitious plan to build 1,000 merchant ships domestically by 2034, marking a major push toward reducing dependency on foreign shipping lines and boosting economic self-reliance.
Currently, India’s merchant fleet includes around 1,500 ships—but only a small fraction are large vessels. With just 1.2% share in global ship tonnage, India is aiming to rapidly scale its shipbuilding capabilities to match maritime giants like China, Japan, and South Korea.
To accelerate progress, the Union Budget 2025–26 introduced major reforms, including:
🚢 ₹25,000 crore Maritime Development Fund to mobilize ₹1.5 lakh crore in investments by 2030
⚓ Shipbuilding Financial Assistance Policy 2.0 to support industry growth
🔁 40% credit system for using recyclable ship scrap
📜 Progressive marine laws like the Coastal Shipping Bill and Merchant Shipping Bill to simplify ship ownership and reduce operating costs
💼 SCI Bharat IFSC Ltd. at GIFT City to enable competitive ship leasing models
India’s maritime vision is clear:
🎯 Be among the top 10 shipbuilding nations by 2030
🌍 Enter the top 5 by 2047, aligning with India@100
This move represents not just a logistical transformation but a strategic assertion of India’s global shipping ambitions—positioning the country as a future powerhouse in maritime trade and manufacturing.
