Sonowal: Rs 68 bn shipbuilding orders in 4 years

07 Dec 2023 CW Team

Over the past four years, domestic shipyards have received orders totalling Rs 68 billion for 88 vessels, thanks to the Shipbuilding Financial Assistance Policy (SBFAP). Responding to queries in the Rajya Sabha, Sarbananda Sonowal, the Minister for Ports, Shipping and Waterways, revealed that India?s 31 shipyards have successfully delivered 69 vessels valued at Rs 11.45 billion to both domestic and international ship owners during this period, receiving financial assistance amounting to Rs 1.93 billion.

The Shipbuilding Financial Assistance Policy (SBFAP) is a scheme that provides financial support to Indian shipyards for shipbuilding contracts signed between April 1, 2016, and March 31, 2026. The rate of financial assistance started at 20% in 2016 and will gradually diminish to 11% by 2026.

The primary objective of introducing this scheme was to enhance the competitiveness of India-made ships compared to those manufactured in other countries. In May of this year, amendments were made to the guidelines of the scheme, expanding its scope to include wind farm installation vessels and the construction of sophisticated dredgers as specialised vessels eligible for higher financial assistance.

These amendments also introduced a provision for 30% financial assistance for vessels powered by green fuels such as Methanol, Ammonia, or Hydrogen fuel cells. Additionally, a separate set of changes allowed for a 20% financial assistance for vessels equipped with electric propulsion or hybrid propulsion systems.

Prior to these modifications, the scheme was already providing support for Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas carrying vessels, as well as Chemical Tankers, floating or submersible drilling or production platforms, all of which were receiving subsidies.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..