The Indian government has launched two major shipbuilding initiatives, the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS), with a combined outlay of Rs 44,700 crore. These schemes aim to boost domestic shipbuilding capacity, enhance global competitiveness, and stimulate manufacturing and employment. SBFAS will provide financial assistance of 15-25% per vessel, while SbDS focuses on long-term capacity creation, including funding for new clusters and modernizing existing shipyards. A National Shipbuilding Mission will coordinate efforts, and a Shipbreaking Credit Note is introduced to link recycling with new construction.