The Ministry of Ports, Shipping and Waterways in India is actively working on a new shipbuilding scheme to provide incentives to Indian shipyards until 2035. The Ports, Shipping and Waterways Secretary, T K Ramachandran, highlighted that India's goal is to elevate its shipbuilding status to be among the top 10 nations by 2030 and eventually one of the top 5 by 2047. The ministry is also focusing on green shipping initiatives, offering financial assistance of 30% for vessels powered by green fuels such as methanol, ammonia, and hydrogen fuel cells. Additionally, there is a 20% financial aid provision for vessels equipped with fully electric or hybrid propulsion systems. Moreover, the ministry is exploring partnerships in the shipping sector, with discussions underway for a potential joint venture between the Shipping Corporation of India and oil marketing companies to collectively own large tankers. The ownership structure for this venture will be determined based on the prevailing market demands and conditions. Ramachandran also mentioned that MSC Cruises, a global cruise major, has shown interest in deploying their ships for domestic voyages, indicating potential growth and collaboration in the maritime industry. The overall sentiment of the article is positive, emphasizing India's ambitious shipbuilding goals and the focus on green shipping initiatives to propel the sector forward.