Archive · 9 Oct 2026
India Advances Ecosystem Strategy to Build Global Shipbuilding Industry
India wants to build more ships at home and make its shipbuilding industry stronger.
Former shipping secretary T K Ramachandran described the plan at a maritime event in New Delhi.
He said new laws and a ₹70,000-crore support package are helping the sector.
The government is trying to give shipyards more predictable orders, including demand for over 100 vessels in two years.
It is also offering financing support and making it easier for shipping companies to get longer-term loans.
Some incentives encourage ships to be built in India after older vessels are recycled there.
Ramachandran said demand for newer and greener ships could create more opportunities.
He also said international companies, including Mediterranean Shipping Company, have shown interest through shipbuilding orders in India.
Former shipping secretary T K Ramachandran described India’s plans to strengthen its shipbuilding industry at Sagarmanthan: The Great Oceans Dialogue 2026 in New Delhi.
He said five legislative reforms and a ₹70,000-crore support package announced last year marked a turning point for the maritime sector.
The government’s strategy combines demand aggregation, shipyard infrastructure, financing support and incentives for domestic ship ownership.
Ramachandran said India had identified demand for more than 100 vessels over the following two years and ranked around 16th globally in shipbuilding.
Measures include interest subvention of up to 3%, longer loan tenures after shipping received infrastructure status, and conditional credits linked to ship recycling.
- Who
- T K Ramachandran, former secretary in the Ministry of Ports, Shipping and Waterways, discussed India’s shipbuilding plans.
- What
- He outlined an ecosystem-based strategy to strengthen domestic shipbuilding through demand, infrastructure, financing and incentives.
- When
- Thursday, at Sagarmanthan: The Great Oceans Dialogue 2026; he also referred to reforms and a package announced last year.
- Where
- New Delhi, India.
- Why
- The measures are intended to address demand- and supply-side challenges, improve project viability and build a globally competitive shipbuilding industry.
- Financial package
- ₹70,000 crore, announced last year, with support designed to strengthen the industry over 10 years.
- Legislative reforms
- Five laws were enacted, according to Ramachandran.
- Identified vessel demand
- More than 100 vessels over the following two years.
- Global shipbuilding rank
- India ranked around 16th at the time of the discussion, Ramachandran said.
- Interest incentive
- Interest subvention of up to 3%.
- Loan tenures
- Ramachandran said infrastructure status for shipping enables loans of up to 25 years, compared with earlier tenures of about five to seven years.
- Recycling-linked credit
- Up to 40% of the value of a ship recycled in India can be claimed as credit when the ship is built domestically, subject to conditions.