India Enhances Shipbuilding Capabilities with New Regulatory Framework
Govt sets sail on shipbuilding push with regulator revamp, naval architects
Mint
Image: Mint
The Indian government is enhancing its shipbuilding capabilities by appointing naval architects to the Directorate General of Shipping (DGS). This initiative aims to reduce reliance on foreign vessels, improve regulatory standards, and support domestic shipyards, aligning with global best practices.
- 01The Indian government plans to appoint 15 naval architects to the Directorate General of Shipping to enhance shipbuilding expertise.
- 02This initiative is part of a broader strategy to reduce reliance on foreign-built vessels and strengthen national security.
- 03The Directorate General of Shipping will transition to the Directorate General of Maritime Administration, expanding its mandate.
- 04India aims to become a top 10 shipbuilding nation by 2030 and top 5 by 2047.
- 05A ₹25,000 crore Maritime Development Fund has been announced to support shipbuilding initiatives.
Advertisement
In-Article Ad
The Indian government is taking significant steps to bolster its shipbuilding industry by appointing 15 naval architects to the Directorate General of Shipping (DGS). This initiative aims to enhance technical capabilities and reduce dependence on foreign-built vessels. The DGS will transition to the Directorate General of Maritime Administration (DGMA) under the new Merchant Shipping Act, with an expanded mandate focusing on digital administration and green energy. The establishment of a dedicated Shipbuilding Cell will facilitate the assessment of existing shipyards, develop feasibility studies, and create standard design specifications for vessels. Industry experts, such as Nilachal Mishra from KPMG, emphasize that this move signals a commitment to building domestic capacity and improving regulatory clarity, crucial for India's vision of becoming a top 10 shipbuilding nation by 2030 and a top 5 by 2047. Additionally, the Union Budget 2025-26 has allocated a ₹25,000 crore (approximately $3 billion USD) Maritime Development Fund to support shipbuilding and shipbreaking clusters, further enhancing the sector's growth potential.
Advertisement
In-Article Ad
This initiative will enhance India's shipbuilding capacity, potentially reducing costs and improving the quality of domestically built vessels, which could benefit local shipyards and the maritime industry.
Advertisement
In-Article Ad
Reader Poll
Do you support the government's initiative to enhance India's shipbuilding capabilities?
Connecting to poll...
Read the original article
Visit the source for the complete story.