Maharashtra Set to Sail: New Shipbuilding Hub Policy Unveiled

The Maharashtra government has approved a policy aimed at transforming the state into a major hub for shipbuilding, repair, and recycling. The policy includes capital subsidies, financial assistance for skills development, and land at concessional rates to encourage corporate investment and generate jobs in the sector.

The Maharashtra government has rolled out an ambitious policy to establish the state as a key hub for shipbuilding, repair, and recycling. The newly approved policy initiative offers incentives like capital subsidies and financial support to foster skill development and attract corporate investment.

Ports Minister Nitesh Rane noted the strategic position of Maharashtra, with India bordered on three sides by the sea, presenting a unique opportunity for the state to become a major player in international trade. He emphasized the policy's aim to develop a thriving ecosystem for the sector, including state-of-the-art shipyards and recycling facilities.

The policy aims to generate significant economic benefits, including Rs 6,600 crore in investment and the creation of 40,000 jobs by 2030. Elements such as planning-led development, marine shipyard clusters, and supportive infrastructure are central to the strategy's success, Rane said.

(With inputs from agencies.)