40,000 Jobs Expected as Maharashtra Pushes Maritime Industry Growth
Mumbai, 19th May 2025: The Maharashtra government has announced a comprehensive shipbuilding policy aimed at promoting ship construction, repair, and recycling along the state’s 720-km coastline. The policy seeks to attract ₹6,600 crore in investments and create 40,000 jobs, aligning with the Centre’s Sagar Bharat Mission 2020 and Amrit Kaal Vision 2047.
Under the new policy, private players in the shipbuilding and allied sectors will receive a 15% capital subsidy. Additional financial support includes up to ₹5 crore for setting up skill development centers and up to ₹1 crore for employee training programs.
The policy encourages the development of shipyards, dry docks, repair facilities, and recycling units along the coast. The Maharashtra Maritime Board (MMB) will spearhead the implementation, with its Chief Executive Officer serving as the nodal authority.
Officials believe the initiative will not only boost local manufacturing and reduce dependence on imported vessels but also help conserve foreign exchange and open up new revenue streams for the MMB. It is also expected to foster the growth of a skilled maritime workforce.
Maharashtra has set a bold target of capturing 33% of India’s shipping industry by 2030. Planned infrastructure under this policy includes jetties and logistics hubs to support coastal development and maritime trade.
By positioning itself as a leading maritime hub, Maharashtra aims to stimulate economic growth, drive industrial development, and create employment—particularly for the youth in coastal districts.
