This ambitious package is part of a broader national strategy to transform India's maritime sector, aligning with the Maritime Amrit Kaal Vision 2047. The goal is to elevate India to a global maritime superpower, increasing its share of global port cargo and building a robust domestic fleet. 

The government's initiatives, including a Shipbuilding Financial Assistance Scheme and a new Maritime Development Fund, are designed to address the significant challenge of India's reliance on foreign ships, which costs the country approximately ₹6 lakh crore annually.
The strategy, informed by successful models in China and South Korea, focuses on a three-pronged approach:

* Shipbuilding Financial Assistance Scheme (₹25,000 crore): This scheme provides direct financial aid to domestic shipbuilders to make their projects more competitive.

* Maritime Development Fund (₹25,000 crore): This fund is intended to provide long-term, low-cost financing for players in the maritime sector, a critical need for large, capital-intensive projects.

* Shipbuilding Development Scheme (SDS) (₹20,000 crore): This scheme will support the creation of greenfield shipbuilding mega clusters and expand the capacity of existing shipyards.

This comprehensive plan is expected to generate two crore direct and indirect jobs over the next five years and is crucial for achieving India's target of a $2 trillion export value by 2030.