New Delhi is adding further support to India’s shipyards. The nation’s shipbuilders and ship recyclers have been granted infrastructure status under the government’s Made in India scheme, which will make their financial moves easier.
Yards will now be able to access long-term loans of up to 25 years. The move follows on from a large shipbuilding subsidy programme announced by the government last month.
Last month’s 10-year, $600m package includes a right of first refusal for Indian shipyards for government purchases and tax incentives.
