Overview
- The Maharashtra State Cabinet has approved the Shipbuilding, Ship Repair, and Ship Recycling Policy 2025, aiming to transform the state into a major maritime hub.
- The policy sets targets of Rs 6,600 crore investment and 40,000 jobs by 2030, scaling up to Rs 18,000 crore and 330,000 jobs by 2047.
- Financial incentives include capital subsidies of up to 15% of project costs, skill development grants up to Rs 1 crore, and R&D support up to Rs 5 crore per project.
- A single-window mechanism under the Maharashtra Maritime Board will streamline land allocation, permits, and approvals to facilitate development.
- Recent outreach to the Netherlands has generated interest from international investors, with potential commitments of Rs 2,500–3,000 crore in Maharashtra’s maritime sector.