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Strategic Push to Boost Shipping Capacity Amid Global Trade Disruptions.

Centre to Infuse Capital in SCI, Plans Fleet Expansion via Maritime Fund.                                                                                                                                            

The government plans to infuse capital into Shipping Corporation of India (SCI) through the ₹25,000 crore Maritime Development Fund (MDF) to expand its fleet, Union Shipping Minister Sarbananda Sonowal said. The initiative includes forming joint ventures with oil and dry bulk PSUs to meet India’s growing export-import shipping demands. SCI will procure second-hand vessels immediately, with new vessels ordered from Indian shipyards under upcoming JV agreements. A tender for four medium-range product tankers is set to be floated this October. Sonowal highlighted SCI's growing strategic importance amid global supply chain disruptions, including tensions in West Asia and post-COVID trade realignments. The Cabinet recently approved a ₹1.69 lakh crore shipbuilding boost, including the extended Shipbuilding Financial Assistance Scheme and a ₹1.19 lakh crore Shipbuilding Development Scheme to create mega shipbuilding clusters and increase capacity to 4.5 million gross tonnage. The move aims to strengthen India’s maritime self-reliance and reduce dependency on foreign fleets.