India’s Maritime Development Fund

India’s proposed Maritime Development Fund is likely to be ready by the end of this year.

The proposed Fund looks at providing long term, low cost financial support and push towards indigenous ship-building.

Contours of the fund, and guidelines towards spending the same, is currently under-discussion and it will have participation from industry stakeholders, financial institutions and Ministries.

The Maritime Development Fund is proposed to start with a corpus of ₹25,000 crore spread over a seven-year-period.

Multiple funding mechanisms— Debt, Equity, VGF and buyer credit support will be part of the fund mandate.