The Ministry of Ports, Shipping and Waterways in India is spearheading a new shipbuilding scheme to provide incentives to Indian shipyards until 2035. The initiative is aimed at propelling India's shipbuilding industry to be ranked among the top 10 nations globally by 2030 and among the top five by 2047, a significant leap from its current 22nd position. Furthermore, there are plans for collaboration with international entities like MSC Cruises for domestic cruise itineraries. In a bid to enhance shipping capabilities, a joint venture is in the works between the Shipping Corporation of India (SCI) and oil marketing companies to operate large tankers. Additionally, the ministry is focused on promoting green shipping practices. It plans to provide 30% financial assistance for vessels utilizing green fuels such as methanol, ammonia, and hydrogen fuel cells. Moreover, vessels equipped with fully electric or hybrid propulsion systems will receive a 20% financial incentive. These measures not only aim to boost the Indian maritime sector but also underline a commitment towards sustainable and eco-friendly practices in the shipping industry.