Archive · 20 Sep 2025
Modi Pushes Domestic Shipbuilding, Citing Foreign Payments
India pays a massive $75 billion yearly to foreign shipping companies.
Prime Minister Modi wants to build more ships in India.
He blames previous leaders for not focusing on domestic shipbuilding.
His government will invest over ₹70,000 crore in shipyards.
This aims to create jobs and lessen dependence on foreign ships.
The government will also give infrastructure status to large vessel construction, offering financial advantages.
India pays $75 billion annually to foreign shipping companies.
PM Modi is promoting domestic shipbuilding.
The government will invest over ₹70,000 crore in shipyards.
SDHI signed a ₹4,250 crore MoU with GMB.
Infrastructure status will be provided for large vessel construction.
- Who
- Prime Minister Narendra Modi
- What
- Promoting domestic shipbuilding, criticizing reliance on foreign vessels, and announcing investments.
- When
- Published on September 20, 2025
- Where
- Bhavnagar, Gujarat, India
- Why
- To reduce payments to foreign shipping companies and boost domestic shipbuilding
Past Government Policies
Current Government Policies
Focus
Past Government Policies
Reliance on foreign vessels
Current Government Policies
Promoting domestic shipbuilding
Financial Strategy
Past Government Policies
Leasing foreign vessels
Current Government Policies
Investing in domestic shipyards
- Annual Payments to Foreign Companies
- $75 billion
- Government Investment
- Over ₹70,000 crore in shipyards
- MoU Signed (SDHI)
- ₹4,250 crore with Gujarat Maritime Board (GMB)
- Focus
- Modern technology, design, and quality improvements
- Infrastructure Status
- To be provided for large vessel construction
- MoU Signed (SDHI)
- With Sagarmala Finance Corporation Limited (SMFCL)
