New Shipbuilding Scheme to Incentivize

08 Aug 2024 CW Team

The Indian government is set to introduce a new shipbuilding scheme designed to incentivize domestic shipyards through 2035. This initiative aims to bolster the country's shipbuilding sector by providing financial incentives and support, enhancing competitiveness and fostering growth within the industry.

The scheme is expected to offer various benefits to Indian shipyards, including subsidies, tax breaks, and other financial incentives. These measures are intended to reduce operational costs, encourage innovation, and improve the overall efficiency of shipbuilding processes. By strengthening the domestic shipbuilding capacity, the scheme aims to position India as a key player in the global maritime industry.

The introduction of this scheme aligns with the government's broader strategy to promote indigenous manufacturing and reduce dependency on foreign shipyards. It reflects a commitment to enhancing the capabilities of Indian shipyards and supporting their long-term growth and sustainability.

The new scheme will likely have a significant impact on the industry, leading to increased shipbuilding activity, job creation, and advancements in maritime technology. It also presents opportunities for shipyards to expand their operations and explore new markets.

Overall, the forthcoming shipbuilding scheme represents a strategic move to advance India's maritime sector, offering substantial incentives and support to domestic shipyards and reinforcing the country's position in the global shipbuilding arena.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..