Upgrading Shipyards in India

• India’s shipbuilding and maritime ecosystem is being revitalized with a new package of ₹69,725 crore.

• The package aims to expand India’s capacity to build large merchant ships to 4.5 million gross tonnage.

• The plan includes upgrading shipyards for advanced technology and management principles, promoting new yards housing factories for shipbuilding ancillaries, and supporting shipowners for financing new builds.

• The package faces challenges due to the slow turnaround times and high capex, a factor preventing Indian shipowners from ordering new shipbuilds.

• The cost of finance for new shipbuilds is largely lower for large vessels, not for small ships.

• Incentives to promote shipbuilding should include long-term offtake possibilities, as Indian shipowners do not see long-term demand visibility for new builds.

• India’s green fuel production policy has seen projects to produce and export green fuels, but not leveraging them to build green ships and offtake.

Modernising Indian shipyards is important topic for Civil service exam (WBCS).

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