NEW DELHI : The central government may soon launch a maritime development fund to support firms in building ships and the announcement could be made in the upcoming Budget 2024, according to sources.
The Budget could also see the announcement of a green ship scheme under which the government plans to promote pollution-free hydrogen-based vessels on domestic waterways, according to the report.
As of today, India’s share in the global shipbuilding industry is hardly around 2 percent and each year the country spends over $70 billion on leasing
Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.
You cannot copy content of this page
