India to Offer Multiple Incentives To Bolster Shipbuilding Industry

Capt. John
Credit: famingjia inventor/ unsplash
  • India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry.
  • It is a part of an effort to reduce the pain of high freight rates.
  • The plans include subsidies so that at least 50 new vessels can be built.

A 10 billion rupee ($123 million) maritime development fund is also likely to be established, they added, without providing further details.

Plan Unveiled

Finance Minister Nirmala Sitharaman is expected to announce...

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