With the government announcing investments to the tune of Rs 69,725 crore for shipbuilding and maritime reform in India this year, the sector is entering a promising phase of growth.

Shipbuilding, often termed the "mother of heavy engineering", plays a central role by generating employment, attracting investment, and strengthening national security and strategic independence. India's shipbuilding sector creates a strong economic impact; each investment boosts jobs 6.4 times and returns 1.8 times the capital, showing its power to drive growth and development, according to an official statement issued on Tuesday.

The Shipbuilding Financial Assistance Scheme, with an outlay of Rs 24,736 crore, provides financial support, ship-breaking credit notes, and steers domestic manufacturing through

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