India Enhances Naval Manufacturing to Achieve Vision of Self-Reliant Maritime Power

India is undertaking a comprehensive overhaul of its naval manufacturing capabilities to realize Prime Minister Narendra Modi's vision of a self-reliant and globally competitive maritime industry by 2047. According to Union Minister Sarbananda Sonowal, the government's initiatives aim to transform the country's shipbuilding sector through strategic reforms aligned with Maritime India Vision 2030 and the broader Amrit Kaal framework. Recent fiscal policies have introduced targeted investments and reforms to boost the capacity and competitiveness of Indian shipyards. Key measures include updating the Shipbuilding Financial Assistance Policy to reduce costs and support local yards in competing internationally, as well as implementing credit notes for shipbreaking activities to promote sustainability. Significant structural changes involve classifying larger vessels under an Infrastructure Harmonised Master List, facilitating access to affordable, long-term financing. The government also plans to establish integrated shipbuilding clusters equipped with advanced facilities and training centers to expand production and skill development. A pivotal development is the creation of a ₹25,...