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The Maharashtra government has approved a new shipbuilding policy to bolster the state鈥檚 maritime infrastructure and promote ship repair and recycling industries. The Maharashtra Shipbuilding, Ship Repair, and Ship Recycling Facility Development Policy 2025 was cleared in the latest cabinet meeting, with a Government Resolution (GR) issued on Friday.This move is expected to attract fresh investments, generate employment, and contribute to foreign exchange savings by reducing reliance on overseas shipyards. The policy aligns with the central government鈥檚 Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, with Maharashtra targeting a one-third share of national efforts in shipbuilding and related services.Maharashtra鈥檚 strategic coastal position offers strong potential for developing new shipyards, servicing ageing vessels, and facilitating organised ship recycling. While the Maharashtra Maritime Development Policy 2023 governs the state鈥檚 minor ports, the new policy addresses the shipbuilding ecosystem specifically.According to the GR, the government will actively encourage private sector participation in three formats:37. Maritime shipyard clusters, which will house multiple shipyards to drive efficiency and collaboration;38. Standalone shipyards, enabling individual operators to offer niche services; and39. Shipyard projects integrated with ports to improve logistical synergies.The policy also outlines a series of financial incentives:40. Capital subsidies of 15 per cent of the project cost will be granted to private entrepreneurs in four equal tranches, released at each 25 per cent project completion milestone and post-commissioning.41. Entities establishing skill development centres for shipbuilding, repair, or recycling will be eligible for assistance up to 60 per cent of the cost or Rs 50 million, whichever is lower.42. An annual grant of 50 per cent of the cost or Rs 10 million will be provided for employee training and upskilling.43. Developers setting up shipbuilding or recycling infrastructure will receive up to 60 per cent of the project cost or Rs 50 million as capital assistance.The government believes this policy will help scale up cargo handling capacity, strengthen India鈥檚 maritime manufacturing base, and create a skilled talent pool within the state. With these measures, Maharashtra is positioning itself as a key maritime hub on the western coast, fostering innovation, industrial growth, and long-term economic resilience.