VIDEO: Maharashtra Minister Nitesh Rane Announces Landmark Maritime Policy To Boost Shipbuilding, Repair And Recycling Industry
Mumbai: The Maharashtra State Cabinet has approved a landmark policy focusing on shipbuilding, ship repair, and ship recycling, making Maharashtra the first state in India to introduce such a comprehensive framework for the maritime industry.
Port and Fisheries Minister Nitesh Rane announced the approval, stating that the new policy aims to transform Maharashtra into a major hub for shipbuilding and related industries.
"By 2030, we aim to attract investments of Rs 6,600 crore and generate 40,000 jobs for the youth of Maharashtra. By 2047, the goal is to bring in Rs 18,000 crore in investments and create 3.3 lakh employment opportunities,” said Minister Rane.
The policy outlines several strategic goals, including: Developing Maharashtra as a leading center for shipbuilding, repair, and recycling, Establishing skilled manpower by focusing on training and productivity, Encouraging investment in advanced technological zones,Boosting innovation through research, development, and collaboration, Supporting India’s vision of becoming a $5 trillion economy.
Minister Rane emphasized the state’s ambition to capture 33% of India’s shipbuilding business by 2047. He also mentioned that recent visits to the Netherlands by the Department of Ports and Fisheries have generated interest from international companies willing to invest between Rs 2,500 to Rs 3,000 crore in Maharashtra’s maritime sector.
To facilitate this vision, the policy includes provisions for: Establishing maritime clusters within a 30-km radius, Developing standalone shipyards and ship recycling facilities, Providing infrastructure, ancillary industries, and skill development centers.
Setting up a single-window development mechanism through the Maharashtra Maritime Board (MMB), which will also oversee land allocation through a transparent bidding process.
Financial incentives under the policy include: Capital subsidies up to 15% of the project cost, Skill development assistance covering 50% of employee training expenses, up to Rs 1 crore, R&D support of up to 60% or Rs 5 crore, The Maharashtra Maritime Board will act as the coordinating body for investors and development initiatives, while also creating new revenue streams and strengthening its institutional capacity.
Minister Rane noted that the policy aligns with Prime Minister Narendra Modi’s vision to boost India’s maritime economy and global position in shipbuilding. “This policy is a significant step in lifting India’s rank in the global shipbuilding sector,” he added.
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