The Union Budget 2026-27 has provided significant financial support for India’s maritime and shipbuilding sector.

The Sagarmala programme, the flagship initiative of the Ministry of Ports, Shipping and Waterways, has been allocated Rs 616.88 crore for the financial year. Although this is slightly lower than previous allocations, the funds will continue to support port modernisation, connectivity, and industrial development along India’s coastline. In addition, the newly approved Maritime Development Fund has received Rs 1,000 crore. This dedicated fund aims to strengthen the growth of the maritime sector by providing financial support for shipbuilding, ship repairs, and port development, helping India achieve global competitiveness.

The Budget also earmarks Rs 515 crore for the Shipbuilding Financial Assistance Scheme (SBFAS) and the National Shipbuilding Mission, which will provide targeted financial assistance to shipyards for constructing vessels and credit support for scrapping old ships. Furthermore, Rs 250 crore has been allocated under the Shipbuilding Development Scheme (SbDS) for infrastructure creation, capacity expansion, and credit risk mitigation.