Mumbai : In a pioneering move, the Maharashtra Cabinet has approved the country’s first comprehensive maritime policy focused on shipbuilding, repair, and recycling. Announced by State Port and Fisheries Minister Nitesh Rane, the policy aims to transform Maharashtra into a major hub for the maritime industry and attract substantial domestic and international investments.
By 2030, the state targets investments worth Rs 6,600 crore and the creation of 40,000 jobs. Looking ahead to 2047, the goal is to bring in Rs 18,000 crore in investments and generate 3.3 lakh employment opportunities.
Key objectives of the policy include establishing Maharashtra as a leading center for shipbuilding, promoting advanced technological zones, fostering innovation through R&D, and developing skilled manpower. The initiative also supports India’s ambition of becoming a $5 trillion economy.
Minister Rane highlighted that Maharashtra aims to capture 33% of India’s shipbuilding market share by 2047. He also noted encouraging global interest, with international investors from the Netherlands showing willingness to invest between Rs 2,500 to Rs 3,000 crore.
The policy provides for the development of maritime clusters, standalone shipyards, and ship recycling facilities within a 30-km radius. It also introduces a single-window system through the Maharashtra Maritime Board (MMB) to streamline development, land allocation, and investment coordination.
Financial incentives include capital subsidies up to 15% of project cost, 50% support for skill development training (up to Rs 1 crore), and R&D support covering 60% of expenses (up to Rs 5 crore).
Minister Rane emphasized that this initiative aligns with Prime Minister Narendra Modi’s vision to elevate India’s global position in maritime trade and shipbuilding, calling the policy a “significant step forward in strengthening India’s maritime economy.”
