The central government plans to unveil a ₹70,000-crore package to boost shipbuilding, repair, and port infrastructure by mid-September. This includes ₹20,000 crore for a shipping cluster program and a similar amount for the revamped Shipbuilding Financial Assistance Programme, aiming to attract investments and enhance maritime capabilities across several states.
The Western Arctic Marine Training Centre (WAMTC) recently celebrated the graduation of nine students from their bridge watch rating program. These graduates, mainly from the Northwest Territories, are now ready to work as deckhands on marine vessels in Canada. The ceremony, attended by local politicians, highlighted the high demand for qualified mariners in the industry.
The Indian government is considering using its own funds to establish a P&I entity for insuring cargo vessels. Private insurers are expected to contribute later. Discussions are ongoing with stakeholders, aiming to cover coastal and riverine vessels initially. The plan involves international partnerships, a fixed premium framework, and involving global players for reinsurance management.
