India to Greenlight Rs 250 Bn for Shipbuilding and Infrastructure

12 Sep 2024 CW Team

The Indian government is expected to approve a Maritime Development Fund (MDF) worth Rs 250 billion later this month. The fund is designed to provide long-term, low-cost financial support for indigenous shipbuilding and blue water infrastructure projects. This initiative aligns with the Make-in-India campaign, which seeks to establish India as a global manufacturing hub.

The MDF is anticipated to be structured as a corporate entity with the government holding a minority stake of at least 26 per cent. The majority shareholding will be allocated to multilateral financial institutions and global funds. It will offer various forms of financial support, including debt, equity, viability gap funding (VGF), and buyer credit. Although similar to the National Bank for Financing Infrastructure and Development (NaBFID), the MDF will focus specifically on the maritime sector.

The fund will have a corpus of Rs 250 billion over seven years and will provide long-term loans of up to 25 years, matching the 30-year lifespan of vessels.

As of December 2023, India's fleet comprises 1,526 vessels with a gross tonnage (GT) of 14 million. Approximately 44 per cent of these vessels are over 20 years old, indicating a need for replacement in the near future.

This development follows inter-ministerial consultations, with a final cabinet note expected to be submitted for approval by the end of September.

The MDF aims to achieve several key objectives:

Promote domestic shipbuilding of all types and sizes to reduce dependence on foreign ships. Currently, India spends nearly $75 billion annually on leasing ships and controls only 2 per cent of the world's total tonnage.
Increase India's share of the global shipbuilding market from less than 1 per cent to 5 per cent, which is currently dominated by China, South Korea, and Japan.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..