'Maruti moment': India aims Rs 70,000 crore package for domestic shipbuilding; reduce reliance on foreign vessels
India launched a Rs 70,000-crore package to revolutionize its shipbuilding sector, aiming for a "Maruti moment." This initiative seeks to reduce reliance on foreign vessels, which handle 95% of trade, by boosting domestic capacity and attracting major Korean and Japanese shipbuilders. The plan includes incentives and a development fund to strengthen India's maritime security and economic resilience.
India launched a Rs 70,000-crore package to revolutionize its shipbuilding sector, aiming for a "Maruti moment." This initiative seeks to reduce reliance on foreign vessels, which handle 95% of trade, by boosting domestic capacity and attracting major Korean and Japanese shipbuilders. The plan includes incentives and a development fund to strengthen India's maritime security and economic resilience.
