India has announced plans to enhance its maritime sector, focusing on shipbuilding, repair, and overall industry modernisation. Finance Minister Nirmala Sitharaman detailed these initiatives during the budget presentation.
A 250-billion rupee ($2.9 billion) Maritime Development Fund will be established to provide long-term, low-cost financial assistance to the shipbuilding and repair industry.
The government will contribute 49% of the fund, with the remaining...