India to Launch Two ₹25,000-Cr Funds for Maritime Sector, Shipbuilding.

The Indian government is set to launch two major funds totaling up to ₹50,000 crore to modernize its maritime and shipbuilding sectors. The Shipping Ministry is moving ahead with plans to establish a ₹25,000-crore Maritime Development Fund (MDF) and a separate, parallel fund of a similar amount for shipbuilding clusters.

The ministry is currently preparing Cabinet notes for both proposals, with final clearances expected within the next three to six months. While the MDF's outlay is fixed, the exact size of the shipbuilding fund is still being finalized.

This initiative follows the recent overhaul of India's maritime laws. In the just-concluded Monsoon Session of Parliament, five British-era maritime laws were replaced with modern legislation aimed at simplifying business and operations in the sector.

The creation of these two funds is a key step in leveraging the new legal framework to drive significant growth and infrastructure development in India's ports and shipbuilding industries.