The budget for India’s Inland Water Transport Authority (IWAI) has been increased to Rs 1,944 crore in FY2025-26, a 31% rise from the previous year. This funding will focus on developing National Waterways, improving infrastructure, and enhancing waterway connectivity. Additionally, the Chennai Port Authority received a loan for land acquisition and road construction.
India’s shipbuilding industry is poised for a resurgence with a focus on enhancing capacity in the latest budget. Cochin Shipyard Ltd is at the forefront of this initiative, investing in new facilities for ship production and repair. The budget’s incentives and emphasis on shipbuilding are expected to drive growth and innovation in Kerala’s maritime sector.
Indian government is set to unveil a maritime development fund to support shipbuilding firms in the upcoming Budget, aiming to boost the industry’s self-reliance. The proposed fund, estimated at Rs 15,000-20,000 crore over seven years, will provide affordable loans to shipbuilders. Additionally, a green ship scheme promoting hydrogen-based vessels to reduce pollution is also expected to be announced.
