The Indian government has launched a significant initiative with an outlay of Rs 44,700 crore to bolster the domestic shipbuilding sector and enhance global competitiveness. The initiative includes the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS), designed to provide financial assistance, develop shipbuilding clusters, and modernize existing shipyards. SBFAS aims to support projects worth approximately Rs 96,000 crore over the next decade, while SbDS focuses on infrastructure development and workforce skills, projecting a commercial shipbuilding capacity of 4.5 million gross tonnage annually by 2047. This comprehensive strategy not only aims to revitalize the domestic industry but also positions India as a formidable maritime nation, aligning with the goals of the Make in India, Aatmanirbhar Bharat, and Viksit Bharat initiatives.