The central government is exploring a policy to indigenise shipbuilding in the country by allowing only India-built ships to register for coastal and inland waterways operations starting 2030, Business Standard has learnt.
According to officials and industry executives privy to the matter, the proposal, among others, was a part of deliberations at a workshop on Revitalising Indian Ship Building Industry on July 4 in New Delhi hosted by the Ministry of Ports, Shipping and Waterways (MoPSW).
The recommendation was part of a document prepared by KPMG, which estimated India's position in global shipbuilding at 20th, and the country's share in global shipbuilding to be 0.06 per cent.
The pressing need to have domestic shipbuilding and ship-owning was emphasised by top by top government officials at the session.
"Despite efforts and developments in port infrastructure and inland waterways, we remain dependent on foreign vessels and have yet to capture a significant share of the global shipbuilding market," TK Ramachandran, Union shipping secretary, had said the workshop.
This story is from the July 10, 2024 edition of Business Standard.
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This story is from the July 10, 2024 edition of Business Standard.
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