India, July 28 -- The Government of India has issued a release:
Shipbuilding Financial Assistance Scheme (SBFAS), is an extension of Shipbuilding Financial Assistance Policy (SBFAP), with an outlay of Rs. 24,736 crore to address cost disadvantages faced by Indian shipyards vis-a-vis global shipyards.
Maritime Development Fund (MDF), with a corpus of Rs. 25,000 crore, has been established for providing long term financing support to shipbuilding and maritime sector comprising of Maritime Investment Fund (MIF) of Rs. 20,000 crore and Interest Incentivisation Fund (IIF) of Rs. 5,000 crore.
The scheme guidelines to operationalize SBFAS have been issued on 26.12.2025 and in-principle approvals for shipbuilding financial support are given in accordance with scheme guidelines. The guidelines for MDF have also been issued on 20.02.2026. Further, SBI Ventures Limited has been appointed as the Fund Manager for MIF on 26.05.2026.
Disclaimer: Curated by HT Syndication.
