India Aims for Top 5 Maritime Nation Status by 2047

India is committed to becoming a global hub for shipbuilding, aiming to rank among the top five maritime nations by 2047. The government supports this with initiatives like the Maritime Development Fund and infrastructure subsidies. Maharashtra introduces new policies to boost shipbuilding and repair industries.

India is making strides to become a central hub for global shipbuilding, aiming to rise from its current position to rank among the top five maritime nations by 2047. Union Minister Shantanu Thakur revealed this ambitious goal at the 14th INMEX SMM India, attended by global and domestic maritime stakeholders.

The initiative focuses on boosting employment, enhancing global competitiveness, and driving sustainability in the blue economy through government-backed policies like the Rs 25,000 crore Maritime Development Fund and extended financial assistance for shipbuilding till 2036.

Maharashtra plays a pivotal role with its new Shipbuilding, Ship Repair, and Ship Recycling Policy 2025, aiming to contribute a significant portion to national shipbuilding targets. Key features include capital subsidies, infrastructure stimulus, and workforce training, projected to create over 1.4 lakh jobs by 2047.

(With inputs from agencies.)