Maharashtra Launches Landmark Policy to Boost Shipbuilding and Jobs

The Maharashtra State Cabinet has approved a groundbreaking policy aimed at enhancing shipbuilding, repair, and recycling, positioning Maharashtra as India’s first state to implement such a comprehensive maritime framework. Port and Fisheries Minister Nitesh Rane announced that this initiative seeks to establish Maharashtra as a prominent hub for these industries.

The policy sets ambitious targets, aiming to attract investments of ₹6,600 crore and create 40,000 jobs by 2030, with a long-term goal of ₹18,000 crore in investments and 3.3 lakh jobs by 2047. Key strategic goals include developing skilled manpower, encouraging technological investments, and fostering innovation to align with India’s vision of becoming a $5 trillion economy.

Minister Rane highlighted the ambition to capture 33% of India’s shipbuilding market by 2047, noting interest from international investors following recent visits to the Netherlands. The policy outlines the establishment of maritime clusters, standalone shipyards, and skill development centers, facilitated by a single-window mechanism through the Maharashtra Maritime Board.

Financial incentives include capital subsidies, skill development assistance, and R&D support. This policy aligns with Prime Minister Narendra Modi’s vision to elevate India’s maritime economy and improve its global standing in shipbuilding.

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