Is Maharashtra Set to Become India’s Shipbuilding Giant? New ₹6,600 Crore Policy Hints at a Maritime Revolution!

In a historic decision on April 29, 2025, Maharashtra became the first state in India to approve a dedicated Shipbuilding, Ship Repair and Ship Recycling Policy. This major step is part of the state’s broader vision to boost industrial development and contribute strongly to India’s maritime future. The policy aligns with the central government’s 2025 budget, which gave top priority to strengthening India’s maritime sector.

Vision to become a shipbuilding hub by 2030

Minister for Fisheries and Ports, Nitesh Rane, said that the state wants to contribute one-third of India’s shipbuilding goals by the year 2030. Maharashtra will focus on creating a strong ecosystem for shipbuilding, repair, and recycling. The policy also focuses on building skilled manpower and bringing in advanced technologies through research and development (R&D). By taking this bold initiative, Maharashtra hopes to become one of the top maritime states in India.

Today, China, Japan, and South Korea dominate the global shipbuilding market, contributing nearly 93% together. India, on the other hand, contributes only 1% and ranks 21st globally. In ship repair, India stands 20th, but it ranks 2nd in ship recycling with a strong 32.6% share of the global market. Maharashtra itself accounts for 11% of India’s shipbuilding capacity and 21% of total production, making it an important player. The new policy aims to increase this share significantly.

Making full use of resources and creating opportunities

According to the policy, ports and waterfronts in Maharashtra will be fully utilised to build and repair Indian ships. This will reduce foreign spending, increase local employment, and make India more self-reliant. Ships that are old or no longer in use will be recycled in an environmentally friendly way. The recovered materials, like steel, will be reused. The state is also encouraging private and foreign investment by offering financial benefits and capital subsidies to businesses entering the sector.

The policy comes with an investment of Rs 6,600 crore by 2030, aiming to create 40,000 jobs in the short term and 3.3 lakh jobs by 2047. Maharashtra also plans to build modern dry docks, integrated maritime clusters, and offer simplified approvals, better connectivity, and green recycling facilities to attract more businesses. Through its Maritime Board, the state will manage land allocation, cluster development, and provide land at concessional rates on long-term leases of 30 years.

Maharashtra’s policy is aligned with the Central Government’s Maritime India Vision 2030 and Amrit Kaal Vision 2047. The Union Budget 2025-26 allocated Rs 25,000 crore to develop India’s maritime sector. India has set ambitious goals to become one of the top 10 shipbuilding countries by 2030, and one of the top 5 by 2047. Maharashtra’s initiative is expected to play a major role in achieving this national dream.

Growth of India’s shipbuilding market

Globally, the shipbuilding market was valued at $207.15 billion in 2023 and is expected to grow steadily. India’s market, though small at $90 million in 2022, is predicted to grow at an astonishing rate to $8.1 billion by 2033, with a 60% compound annual growth rate (CAGR). Maharashtra’s timely policy could allow the state to capture a large share of this booming industry.

The Maharashtra Logistics Policy 2024 plans to build over 10,000 acres of logistics infrastructure, including international and regional logistics hubs and district nodes. The policy expects to bring Rs 30,000 crore in investment and create nearly 5 lakh jobs by 2029. This will make Maharashtra a key player in India’s supply chain and warehousing ecosystem.

Maharashtra also updated its Electric Vehicle Policy in 2025, offering better subsidies, toll exemptions, and focusing on building EV charging stations. This step is essential for reducing pollution and promoting green transport across the state. It shows Maharashtra’s commitment to sustainable development and innovation.

Industrial Policy 2019: Foundation of Maharashtra’s Manufacturing Growth

The Maharashtra Industrial Policy 2019 laid the groundwork for industrial growth by targeting a 12% to 13% manufacturing growth rate. This helped Maharashtra attract large-scale investments in various sectors like IT, automobile, electronics, textiles, and agro-processing, strengthening its Gross State Domestic Product (GSDP).

Maharashtra has always been one of the most developed states in India. From Mumbai as the financial capital, to Pune as an education and IT hub, the state has consistently led in industry, infrastructure, and innovation. With robust policies, strong governance, and the willingness to take bold steps, like the new shipbuilding policy, Maharashtra is ensuring it remains at the forefront of India’s economic and industrial growth.

From building modern ports in Navi Mumbai to launching India’s first bullet train corridor with the Centre, Maharashtra continues to demonstrate its leadership. The state’s emphasis on skill development, green energy, digital transformation, and ease of doing business has made it a model for others to follow.

Maharashtra’s Shipbuilding Policy 2025 is not just a state-level decision, it’s a national milestone. It reflects vision, planning, and the confidence to take on global challenges. Supported by its past achievements and forward-looking policies, Maharashtra is paving the way to become a maritime powerhouse, boosting India’s dreams of becoming a global leader in shipbuilding and maritime trade.

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