NEW DELHI : India will provide additional incentives to encourage domestic shipyards to develop fuel-efficient and technologically advanced vessels as part of its ambitious plans to transform the country’s shipping industry.
MoPSW is finalising a cabinet note to provide a 25% subsidy for specialized vessels, and up to 30% for green vessels and other highly specialised ships, according to two persons aware of the matter.
These subsidies will be provided under the government’s ₹18,000 crore shipbuilding financial assistance policy (SBFAP) 2.0, they said.
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