Overview
- Under the Shipbuilding Financial Assistance Scheme, a Rs 24,736 crore corpus will fund 15–25% per vessel with milestone‑linked disbursals, plus a Shipbreaking Credit Note equal to 40% of scrap value for vessels recycled in India.
- The Shipbuilding Development Scheme allocates Rs 19,989 crore for 100% funding of common infrastructure in greenfield clusters via 50:50 Centre–State SPVs and 25% support for brownfield upgrades, alongside an India Ship Technology Centre at the Indian Maritime University.
- Brownfield rules cap support at Rs 1,500 crore per yard, set a six‑year completion deadline from final approval, require Independent Project Monitoring Agencies, mandate a public online status tracker and keep assistance subject to CAG audit.
- Both schemes run until March 31, 2036 with an envisaged extension to 2047, with projections of about Rs 96,000 crore in shipbuilding enabled over the next decade and commercial capacity targeted near 4.5 million GT annually by 2047.
- A Credit Risk Coverage Framework offers government‑backed insurance for pre‑shipment, post‑shipment and vendor‑default risks, while listed shipbuilders such as Mazagon Dock, Cochin Shipyard and GRSE drew investor focus following the notification.