India rolls out ₹24,736 crore shipbuilding assistance scheme

It also established a ₹25,000 crore Maritime Development Fund.

India has operationalised a ₹24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS) to improve the competitiveness of domestic shipyards.

The government has issued guidelines for the SBFAS, an extension of the Shipbuilding Financial Assistance Policy (SBFAP), which provides financial support to help offset the cost disadvantages faced by Indian shipyards compared with global competitors.

It has also established the ₹25,000 crore Maritime Development Fund (MDF) to provide long-term financing for the shipbuilding and maritime sector.

The fund comprises a ₹20,000 crore Maritime Investment Fund (MIF) and a ₹5,000 crore Interest Incentivisation Fund (IIF).

The government issued the operational guidelines for SBFAS on 26 December 2025, with in-principle approvals for financial support granted in line with the scheme's guidelines.

Guidelines for the MDF were issued on 20 February 2026, whilst SBI Ventures Limited was appointed fund manager for the MIF on 26 May 2026.

The SBFAS and MDF support the Maritime Amrit Kaal Vision 2047, which aims to place India among the world's top 10 countries in ship ownership and shipbuilding by 2030, and among the top five by 2047.

According to the government, the SBFAS will improve the competitiveness of Indian shipyards by reducing shipbuilding costs, whilst the MDF will provide long-term financing for shipyards and maritime infrastructure, supporting both domestic and export-oriented shipbuilding.