2025-01-14 05:51:03 pm | Source: Swan Defence and Heavy Industries
Budget Expectation Quote on Shipping Sector by Vivek Merchant, Director, Swan Defence and Heavy Industries
Below the Budget Expectation Quote on Shipping Sector by Vivek Merchant, Director, Swan Defence and Heavy Industries
Budget Expectation:
"The Indian government’s emphasis on improving shipping infrastructure and promoting indigenous shipbuilding has significantly transformed the sector. India holds a mere 0.05% of the global market share in shipbuilding, in stark contrast to China (~47%), South Korea (~30%), and Japan (~17%), which currently dominate the industry.
Therefore, new Government initiatives and improved budgetary allocations for ports and shipyards could be game changers, showcasing a clear vision for a robust maritime economy. The announcement of India’s Maritime Development Fund (MDF) for long-term indigenous manufacturing projects and the anticipated Shipbuilding Subsidy (SBS) Policy 2.0 could further strengthen the ecosystem, encouraging greater self-reliance and competitiveness.
As we approach 2025, it is crucial for the Union Budget to prioritize investments in shipbuilding infrastructure, incentivize green technologies, and create export opportunities for Indian shipyards."
Sustainability and Innovation:
"As the global maritime industry pivots toward sustainability, Swan’s Shipyard is prioritizing the development of eco-friendly ships with hybrid propulsion systems. Our facility is equipped to handle advanced fabrication projects while adhering to stringent quality standards. India’s commitment to reducing its carbon footprint and embracing green technologies will define the next decade of maritime growth. At Swan, we are proud to contribute to this journey by building a sustainable and self-reliant shipbuilding ecosystem."
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or
investment advice. Investments in financial markets are subject to market risks, and past performance is
not indicative of future results. Readers are strongly advised to consult a licensed financial expert or
advisor for tailored advice before making any investment decisions. The data and information presented
in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the
content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
Kothari Industrial Corporation shines on inking MoU ...
After Budget and India-US trade deal, all eyes on RB...
Economics - India-US trade deal: Start of good times...
India Services PMI rebounds to 58.5 in Jan, hiring r...
JioBlackRock Investment Advisers Launches ?Personali...
Quote on Union Budget 2026 by Ajay Ajmera, Founder &...
Shipping Corporation rises on signing MoU with CONCO...
Sigma Advanced Systems shines on partnering with Ind...
Popular Vehicles & Services jumps as its arm inks pa...
Bharti AXA Life Insurance and Equitas Small Finance ...
