Govt approves policy to create 40,000 shipbuilding jobs in Maharashtra

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Govt approves policy to create 40,000 shipbuilding jobs in Maharashtra - Business Standard

Quick Summary:

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 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.

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.