{"id":89204,"date":"2025-09-29T00:00:00","date_gmt":"2025-09-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/29\/indias-govt-to-plug-c-usd-7-8-bn-to-revitalize-shipbuilding\/"},"modified":"2025-09-29T00:00:00","modified_gmt":"2025-09-29T00:00:00","slug":"indias-govt-to-plug-c-usd-7-8-bn-to-revitalize-shipbuilding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/29\/indias-govt-to-plug-c-usd-7-8-bn-to-revitalize-shipbuilding\/","title":{"rendered":"India\u2019s gov\u2019t to plug c.USD 7.8 bn to revitalize shipbuilding"},"content":{"rendered":"

India\u2019s cabinet greenlit a INR 69.7k <\/strong>crore <\/strong>(cr) (c.USD 7.8 bn) package to boost <\/strong>its shipbuilding and <\/strong>maritime sector<\/strong>, according to a statement<\/a>. The four-pronged package aims to expand domestic capacity, streamline long-term financing, support greenfield and brownfield shipyard growth, as well as form a robust maritime infrastructure.<\/p>\n

What\u2019s in the cards?<\/strong> The development scheme looks to enhance domestic shipbuilding capacity to 4.5 mn tons or over 2.5k vessels annually. Under the bundle, three major funding schemes have been initiated: a INR 24.7k cr shipbuilding financial assistance scheme, INR 20k cr maritime development fund, and a INR 20k cr shipbuilding development scheme. <\/p>\n

India wants to become one of the top-five shipbuilding nations by 2047<\/strong>, S&P Global<\/a> reported. Currently, the country is responsible for less than 1% of the sector\u2019s global market share. <\/p>\n

REMEMBER- Three major players dominate the global shipbuilding sector <\/strong>\u2014 with China holding around a 58% share of the USD 150 bn global shipbuilding market, followed by South Korea at 24%, and Japan at 9%, S&P adds. China saw its share of the global shipbuilding market shoot up from between 7-10% in 2005 to snatch up over half of the global market. The nation did this by investing substantial funding into its shipbuilding industry \u2014 through subsidies and financial incentives.<\/p>\n

\n

\n

US tariffs on pharma incoming next month: <\/strong>The US President Donald Trump announced that the US will impose a 100% tariff on branded and patented pharma products as of October, Financial Times<\/a> reported last week. The announcement makes official earlier threats<\/a>, though the expectation was that the tariffs would be phased in with a lower rate this year and increasing later. Pharma firms with US-based manufacturing plants are, however, exempt from the tariffs.<\/p>\n

Trump also plans to slap a 25% tariff on imported heavy trucks, a 50% tariff on kitchen <\/strong>cabinets and bathroom vanities, and a 30% tariff on upholstered furniture<\/strong> at the beginning of next month. This follows a government probe into trucks weighing more than 10k pounds, as well as parts and derivatives.<\/p>\n

ON A RELATED NOTE- Washington made good on its promise to bring down its tar<\/strong>iffs on EU-sourced automobiles and auto parts to 15%<\/strong>, effective retroactively from 1 August, Reuters<\/a> reported on Thursday, citing a Federal Register note (pdf)<\/a>. This confirms the trade agreement reached last July<\/a>, cementing the 15% figure to wary European automakers \u2014 and officially bringing the auto levy down from the 25% announced<\/a> in April.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: US to move ahead with Pharma tariffs<\/p>\n","protected":false},"author":1,"featured_media":89205,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"0ffb0c75-bb1e-4107-bc75-5fc86a4aa5fd","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1716.jpg","photo_position":"above","homepage_title":"","full_issue_title":"India\u2019s gov\u2019t to plug c.USD 7.8 bn to revitalize shipbuilding","related_issue":[89186],"teaser":"PLUS: US to move ahead with Pharma tariffs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.460d7b44-e158-43fb-8f60-d7c5f4748e58.mp3"},"yoast_head":"\nIndia\u2019s gov\u2019t to plug c.USD 7.8 bn to revitalize shipbuilding - 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