New Delhi - The government is expanding the scope of the recently approved ₹20,416-crore Shipbuilding Financial Assistance Scheme (SBFAS) to accelerate domestic vessel construction and ensure full utilisation of the fund. The scheme will now cover orders secured on nomination from Central and State governments, PSUs and defence vessels meant for export, excluding the cost of weapons.

India plans to build over 350 ships worth nearly ₹2.2 lakh crore under its fleet expansion programme. To support this, the Ministry of Ports, Shipping and Waterways is proposing more flexible guidelines compared to the existing Shipbuilding Financial . . .