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Shipping Ministry Plans New Scheme for Shipbuilding and Repair Industry.

Union Minister Sarbananda Sonowal announced that the Ministry of Ports, Shipping and Waterways will launch a National Shipbuilding Mission, aimed at transforming shipbuilding, ship recycling and creating a globally competitive maritime ecosystem. Currently, only 5% of India’s cargo is carried on Indian-flagged ships, costing the nation over ₹16 lakh crore annually in sea freight payments to foreign firms. The new scheme is expected to save ₹14.5 lakh crore per year and generate 25–30 lakh jobs. For the first time, a ₹70,000 crore financial outlay has been earmarked for the maritime sector, including ₹24,736 crore for a revamped shipbuilding assistance scheme. An India Ship Technology Centre (₹2,305 crore) will also be established at IMU Visakhapatnam to enhance R&D, ship design, and skill development. Sonowal said this mission marks the resurgence of India’s maritime strength and a step towards Atmanirbhar Bharat.