Blitz Bureau
NEW DELHI: The Centre’s Shipbuilding Financial Assistance Policy has helped Indian shipyards to secure both domestic and export orders for building ships to the tune of approximately Rs 10,500 crore since 2016, according to information tabled in Parliament on July 26. As many as 39 shipyards have secured a total of 313 orders since the inception of the scheme. These shipyards have received financial assistance totalling Rs 337 crore for delivering 135 vessels to domestic and international ship owners, Minister of Ports, Shipping and Waterways Sarbananda Sonowal said in a written reply to a question in the Lok Sabha.
Both public and private shipyards like Cochin Shipyard Ltd, Chowgule Shipyard, Mazgaon Shipyard and Garden Reach Shipbuilders & Engineers have secured several domestic and foreign shipbuilding orders, thereby leveraging the availability of financial assistance through the scheme.The scheme provides Indian Shipyards a level playing field vis-a-vis foreign shipyards for domestic and international shipbuilding orders. This scheme is aimed at the revival and promotion of the shipbuilding industry in India for contracts signed from 2016 to 2026, the minister said.
Lower domestic demand for commercial shipbuilding, high cost of finance, relatively small ancillary industry, less automation etc, are seen as reasons affecting the competitiveness of Indian shipyards.
