Govt approves policy to make Maharashtra shipbuilding hub, create 40,000 jobs by 2030

New Delhi: The Maharashtra Government on Tuesday approved a policy to transform the state into a major hub for building ships, undertaking their repair, recycling, and create a supportive ecosystem to develop skilled manpower for the key sector.

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Capital subsidy, financial assistance for skill development per projects and land at concessional rates or long-term leases to corporate entities interested in setting up facilities in the sector are key features of the policy approved by the state cabinet at its meeting in Mumbai.

Ports Minister Nitesh Rane highlighted that India is surrounded by the sea on three sides and given its strategic importance in international trade, the Maharashtra government has resolved to transform the coastal state into a major centre for shipbuilding, repair, and recycling.

"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.

The policy also aims to create a supportive ecosystem, develop skilled manpower, and promote advanced technology through R&D investment, Rane said.

By 2030, Maharashtra aims to contribute to least one-third of India's shipbuilding targets. Under the policy, the sector has potential to attract investment worth Rs 6,600 crore and create 40,000 jobs by 2030, the minister emphasised.

He noted 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.

It also seeks to create supportive infrastructure (roads, power, water), transparent land allocation through the Maharashtra Maritime Board, provide capital subsidy of 15 per cent of project cost, up to Rs 1 crore for skill development per project and up to Rs 5 crore for R&D support, the minister said.

The Government will assist in obtaining permits and approvals, and offer land at concessional rates or long-term leases (30 years with renewal provisions) to entities looking to set up businesses in the sector, he said.

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