India Approves ₹25,000 Crore Maritime Development Fund to Boost Shipbuilding and Blue Economy

The Indian government is set to approve a Maritime Development Fund worth ₹25,000 crore to boost the blue water economy. The focus of this fund is on promoting shipbuilding within the country to position India as a global manufacturing hub. The fund will provide long-term and low-cost financial support for indigenous shipbuilding and other blue water infrastructure projects, paving the way for economic growth. Additionally, efforts to strengthen the maritime sector align with India’s vision to enhance its presence in the global shipping industry. With the establishment of this fund, the government aims to catalyze the growth of the maritime industry and bolster the country’s position in the international market.

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