India is intensifying efforts to develop a globally competitive shipbuilding industry through a ₹70,000 crore financial package and legislative reforms announced last year. T K Ramachandran, former secretary in the Ministry of Ports, Shipping and Waterways, highlighted these initiatives at Sagarmanthan: The Great Oceans Dialogue 2026 in New Delhi, emphasizing the government's ecosystem-based approach to boost both demand and supply sides of the sector.
Ramachandran explained that the government’s strategy focuses on demand aggregation, shipyard infrastructure enhancement, financing support, and incentives for domestic ship ownership. This approach aims to provide shipyards with predictable orders and long-term visibility. India currently ranks around 16th globally in shipbuilding, and the government has identified demand for over 100 vessels in the next two years to stimulate growth and capacity expansion.
The ₹70,000 crore package and enactment of five laws last year mark a turning point for India’s maritime sector, addressing challenges that previously hindered shipyard expansion and order attraction. This initiative aligns with broader efforts to strengthen domestic manufacturing capabilities and reduce reliance on imports. The focus on creating a comprehensive ecosystem distinguishes India’s approach from traditional shipbuilding strategies, aiming to position the country as a significant player in the global maritime industry.
The government’s long-term plan spans a decade, combining legislative reforms with financial incentives to sustain momentum in shipbuilding. The next phase involves implementing infrastructure projects and monitoring order fulfillment to ensure the sector’s growth trajectory. Ramachandran’s remarks at the October 2026 dialogue underscore the government’s commitment to transforming India’s shipbuilding landscape.