Central to the package is the extension of the Shipbuilding Financial Assistance Scheme (SBFAS) until March 31, 2036, backed by a corpus of ₹247.36 billion. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a comprehensive package worth ₹697.25 billion to revitalise India’s shipbuilding and maritime ecosystem. The initiative adopts a four-pillar strategy...
Tag: Maritime Development Fund
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India’s Ports Surge in Efficiency, Investment: Union Minister Sonowal
Delivering the keynote address at the Maritime Financing Summit in New Delhi, Sonowal underscored the maritime sector’s vital role in realising the vision of a developed India by 2047. India’s ports sector is undergoing a remarkable transformation, with marked improvements in turnaround time, port capacity, investment inflows, and customs clearance, Union Minister for Ports, Shipping...
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Budget 2025-26: Industry reactions
Union Finance Minister, Nirmala Sitharaman announced Budget 2025-26 today. The government has planned a number of strategic initiatives which will drive inclusive growth, boost economic growth and provide an impetus to to India’s competitive edge on the global stage. Here’s what industry has to say about various announcements and initiatives announced in the budget: Real...