Wed, February 5, 2025
Tue, February 4, 2025
Mon, February 3, 2025
[ Mon, Feb 03rd ]: Forbes
Belle Wong, J.D.
Sun, February 2, 2025
Sat, February 1, 2025
Fri, January 31, 2025
[ Fri, Jan 31st ]: CNBC
How to apply for a mortgage
Thu, January 30, 2025
Wed, January 29, 2025
Tue, January 28, 2025
[ Tue, Jan 28th ]: LAist
Insurance and wildfires

INDIA BUDGET India to set up $3-bln maritime development fund for shipping industry

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. time-development-fund-for-shipping-industry.html
  Print publication without navigation Published in Business and Finance on by Reuters
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  India will set up a 250-billion-rupee ($2.9-billion) maritime development fund for the long-term financing of the country's shipbuilding and repair industry, Finance Minister Nirmala Sitharaman said on Saturday.

- Click to Lock Slider
India's Finance Minister Nirmala Sitharaman announced in the 2025 budget that the government will establish a Rs 15,000 crore ($1.8 billion) Maritime Development Fund aimed at boosting the shipping industry. This fund will provide long-term, low-cost financing to the sector, which has been facing challenges due to high capital costs and limited access to affordable financing. The initiative is part of a broader strategy to enhance India's maritime capabilities, promote economic growth, and support the 'Make in India' campaign by encouraging domestic shipbuilding and repair. Additionally, the budget includes measures to develop coastal shipping as an energy-efficient and lower-cost mode of transport, alongside plans to upgrade port infrastructure and connectivity.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/india/india-budget-india-set-up-3-bln-maritime-development-fund-shipping-industry-2025-02-01/ ]