INDIAN ECONOMY

Ship building industry can bolster ‘Aatmanirbhar Bharat’, says Survey

The ship building industry is a strategically important industry for its role in energy security, national defence, and the development of the heavy engineering industry, the Economic Survey, 2022-23 noted.
It has the potential to increase the contribution of the industry and the services sector to the national GDP.
With its various direct and indirect linkages with most other leading industries, and its huge dependence on the infrastructure and services sectors of the economy, the shipbuilding industry has the potential to strengthen the mission of an ‘Aatmanirbhar Bharat’, the survey said.
An injection of approximately ₹1.5 lakh crore in naval shipbuilding projects would accrue circulation of 2.73 lakh crore in shipbuilding sector due to multiplier effect.

SHIP BUILDING