In a major push towards strengthening India’s self-reliant shipbuilding ecosystem, Memorandums of Understanding (MoUs) worth more than ₹66,000 crore were exchanged on Monday. The agreements, involving leading public and private sector stakeholders, are expected to accelerate indigenous manufacturing, create new jobs, and modernize India’s shipbuilding capabilities.
Officials highlighted that the investments will support advanced ship design, green propulsion technologies, and infrastructure upgrades at major shipyards. The initiative is seen as a significant step under the government’s Atmanirbhar Bharat vision, aimed at reducing dependence on imports and positioning India as a global maritime hub.
Industry leaders welcomed the move, calling it a “historic moment” for the sector that will unlock opportunities in both defense and commercial shipbuilding.