Make in India: Govt gives shipyard industry infrastructure status

The Government has granted infrastructure status to shipyard industry, a move aimed at promoting the ‘Make in India’ initiative. “The Institutional Mechanism on Infrastructure chaired by Secretary, Department of Economic Affairs has recommended inclusion of shipyards undertaking shipbuilding and ship-repair under the harmonised list of infrastructure sectors,” the Ministry of Shipping said in a statement on Wednesday. With this inclusion, the financial stress which the stand alone shipyards are experiencing will be eased substantially. With the infrastructure status, shipyard industry will be able to avail flexible structuring of long-term project loans.