How Maharashtra eyes a pie of global ship-breaking hub Alang's business
Maharashtra has become the first Indian state to approve a policy for shipbuilding and recycling. The cabinet approved the Shipbuilding, Ship Repair and Ship Recycling Policy, 2025 on April 29.A robust shipbuilding and repair industry has economic as well as strategic considerations for Maharashtra, which has a 720-km-long coastline spread over the districts of Palghar, Thane, Mumbai city and suburbs, Raigad, Ratnagiri and Sindhudurg.advertisementNitesh Rane, minister for ports and fisheries, said the policy aimed to attract investments to the tune of Rs 6,600 crore and create 40,000 jobs in the sector by 2030. 'By 2047, we are targeting an investment of Rs 18,000 crore and 330,000 jobs. We have formulated the policy accordingly,' he informed. The government also aims to provide skill development training to youth to help them get employment in the sector.The policy is also expected to generate revenue for the Maharashtra Maritime Board. The board will create infrastructure such as roads and capital subsidies for these projects.
Rane said that while Alang in Gujarat has been the hub for ship-breaking activities, the Mahayuti government wanted to attract the business to Maharashtra and ensure that the state accounted for around a third of the ships broken down and recycled in the country.advertisementAlang is the world's largest ship-breaking cluster. The global shipbuilding market is estimated at $70 billion (Rs 5.9 lakh crore), primarily dominated by China, South Korea and Japan. China's share of the shipbuilding business is 50 per cent, followed by South Korea (28 per cent) and Japan (15 per cent). India holds just 1 per cent of the business.The global ship-repair market is worth $12 billion (Rs 1.01 lakh crore), and dominated by China, Singapore, Bahrain and Dubai. Globally, India ranks second in ship-recycling, but is facing rising potential competition from Bangladesh and Pakistan on account of higher yields and limited regulatory compliances. India is among the top five countries supplying trained manpower for the maritime sector.While India is one of the market leaders in ship-recycling, ship repair is a very nascent market in itself. Maharashtra's policy is in line with the Union government's Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047.Subscribe to India Today Magazine
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