
India Launches Rs 25,000 Crore Maritime Development Fund to Boost Shipping Industry
Finance Minister Nirmala Sitharaman announced a Maritime Development Fund of Rs 25,000 crore during the 2025-26 Budget, aimed at boosting the maritime industry and fostering competition. The fund expects to attract Rs 1.5 lakh crore in investments by 2030. Additional measures include extending customs duty exemptions for ship manufacturing and revamping financial assistance policies.