India's Maritime Renaissance: The National Shipbuilding Mission Unveiled

India's government, led by Union Minister Sarbananda Sonowal, is introducing the National Shipbuilding Mission to enhance the shipbuilding and repair industry. This initiative aims to save Rs 4.50 lakh crore annually in freight charges while creating 25-30 lakh jobs, contributing significantly to India's maritime sector's growth.

The Indian government is poised to launch the National Shipbuilding Mission, spearheaded by Union Minister Sarbananda Sonowal, to boost the shipbuilding and repair sector. The goal is to transform this industry into a globally competitive maritime force.

The scheme, as outlined by the Minister, targets significant economic savings of Rs 4.50 lakh crore annually by reducing dependence on foreign vessels for trade, while simultaneously generating up to 30 lakh jobs. A significant financial allocation of Rs 70,000 crore will support these ambitious endeavors, marking a historic investment in the maritime domain.

A key component of this strategy is establishing an India Ship Technology Centre at Visakhapatnam, slated to become a central hub for ship design, R&D, and engineering, further enhancing the nation's maritime capabilities. With India now ranking among the top suppliers of seafarers globally, the initiative signals a new era for the country's maritime aspirations.

(With inputs from agencies.)