New Delhi: Maharashtra has cleared a new policy aimed at turning the coastal state into a key centre for shipbuilding, ship repair, and ship recycling. Approved during a cabinet meeting in Mumbai on Tuesday, the policy targets large-scale investment, infrastructure development, and job creation in the maritime sector.
The plan includes a capital subsidy, land at concessional rates, long-term leases, and support for developing skilled manpower. Financial assistance will be provided for training, project-based research, and shipyard infrastructure.
Ports Minister Nitesh Rane said the policy is built around Maharashtra’s strategic maritime location and its potential to support India's growing shipbuilding ambitions.
"The state government has devised the Shipbuilding, Ship Repair, and Ship Recycling Policy, 2025. Given Maharashtra's strategic role in the maritime sector, a dedicated shipyard and recycling policy for the state is essential," he said.
He added that the new policy aims to create a marine-focused industrial ecosystem, develop talent, and push investment in advanced technologies.
By 2030, Maharashtra expects to generate 40,000 jobs and attract investments worth Rs 6,600 crore in the sector. “The policy emphasizes on planning-led development of shipbuilding, establishment of marine shipyard clusters, identification of suitable land, development of single shipyards and recycling facilities,” Rane said.
It also outlines incentives including 15 per cent capital subsidy on project costs, up to Rs 1 crore for skill development per project, and up to Rs 5 crore for R&D. Additional support includes help with permits, clearances, and land allotment through the Maharashtra Maritime Board.
Companies setting up shipyards or recycling units will be offered land either at concessional rates or on 30-year leases with renewal options, making Maharashtra a competitive location in the sector.
BI Bureau
