The Indian government, through the Ministry of Ports, Shipping, and Waterways, is set to introduce a new shipbuilding incentive scheme to elevate the country's shipbuilding sector to global prominence. The scheme aims to propel India from its current 22nd rank in global shipbuilding to the top 10 by 2030 and the top five by 2047. T.K. Ramachandran, Secretary of MoPSW, affirmed the commitment to boost India's shipbuilding capabilities with various incentives and policy reforms. The scheme's focus on sustainability includes offering 30% financial assistance for vessels powered by green fuels like methanol, ammonia, or hydrogen fuel cells. Furthermore, ships with electric or hybrid propulsion systems will receive 20% financial support, aligning with the government's goal of decarbonising the maritime sector. Despite facing challenges like inefficiencies and limited private participation, India sees an opportunity to expand its shipbuilding capacity in a market dominated by countries like South Korea, China, and Japan. The initiative not only aims to enhance economic growth and employment potential but also positions India to meet global decarbonisation goals. With the green shipping market expected to grow significantly by 2047, India can play a key role in the global shipbuilding supply chain, potentially creating millions of jobs. The shipbuilding sector, seen as a vital pillar of economic growth, could contribute significantly to India's GDP and export capabilities as the country strives to become a global maritime leader.