MoPSW Launches New Shipbuilding and Repair Policy for Growth
The Ministry of Ports, Shipping, and Waterways (MoPSW) unveiling policies aimed at propelling the nation into the top echelons of global shipbuilding. The Maritime India Vision 2030 targets a top 10 global ranking for India in shipbuilding, with the ambitious goal of securing a place in the top 5 by 2047. This vision forms part of a broader strategy to boost local manufacturing, sustainability, and the country’s maritime infrastructure.One of the key policies introduced is the amendment to the Shipbuilding Financial Assistance Policy (SBFAP), designed to encourage greater participation from Indian shipyards.
The MoPSW’s efforts are not confined to just policy changes but also include strategic initiatives that integrate environmental considerations. Among these is the launch of the Green Tug Transition Programme, which aims to reduce carbon emissions by promoting eco-friendly tugboat operations.The government has also focused on enhancing local shipbuilding capacities. A significant measure includes the revision of the Right of First Refusal (RoFR) hierarchy for vessel charters, ensuring that Indian-built, Indian-owned ships are prioritised.
This move is part of a broader push to encourage indigenous shipbuilding and reduce dependency on foreign shipyards.In a further effort to support the industry, the MoPSW has also taken steps to streamline procurement for Indian shipyards. For instance, the government now mandates that vessels under ₹200 crore must be procured from Indian shipyards. This aligns with the Make in India initiative, which encourages local manufacturing and aims to create a self-reliant maritime sector.
The government is also focusing on reducing the environmental impact of inland waterway vessels. New guidelines have been introduced to promote the adoption of greener technologies for inland vessels, aiming to create a more sustainable maritime ecosystem.These policy shifts and initiatives represent a concerted effort to not only make India a hub for shipbuilding but also align the industry with global sustainability goals. As the shipbuilding sector evolves, these measures will play a crucial role in shaping the future of India’s maritime industry while fostering economic growth and environmental responsibility.
