India intends to have a five per cent global market share in shipbuilding industry by 2020, Shipping Minister G K Vasan told the Lok Sabha Monday.
The government has mooted plans to develop ancillary units for the shipbuilding sector, as the industry has the potential to create 2.5 million jobs.
The initiatives include private sector participation in capacity augmentation/upgradation for which bid documents have been standardised.
Vasan said income tax incentives were also available for investments in port infrastructure.
Published : December 12, 2012