en.Wedoany.com Reported - Gujarat, India, has announced a shipbuilding subsidy scheme of up to 500 million rupees for locally operating shipyards to incentivize domestic vessel construction. Under this scheme, shipyards can apply for a subsidy equivalent to 8% of eligible costs or 500 million rupees, whichever is lower, for building various types of vessels.
This subsidy is part of Gujarat's broader policy for the development of a shipbuilding and repair industry cluster, with planned layouts covering the Gulf of Kutch, Pipavav, and areas along the state's extensive coastline. The subsidy funds are expected to support shipyard infrastructure investments, including slipways, docks, cranes, block construction capabilities, and dredging works, while also accommodating the development of training and research facilities.
Gujarat's initiative aligns with the revised shipbuilding scheme and financial assistance program of the Indian central government. This central program, with a total outlay of 697.25 billion rupees, has been extended until 2036 and aims to enhance India's position as a global shipbuilding hub. Combined, these measures target the creation of over 150,000 jobs in India, unlocking a shipbuilding capacity of 4.5 million gross tons, and propelling India into the top five shipbuilding nations globally by 2047.
The state's shipbuilding and repair policy also includes a supplementary measure: a 5% subsidy on goods and services procured from micro, small, and medium enterprises (MSMEs) registered in Gujarat, aimed at supporting local ancillary industries and strengthening the shipbuilding ecosystem. Through this series of new incentives, Gujarat is positioning itself as a key maritime growth center under India's "Act East" and "Sagarmala" frameworks, while actively attracting investments from the defense, shipping, and industrial sectors.
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