Vivek Merchant, Director, Swan Defence and Heavy Industries Limited:

“The Union Budget 2025-26 sends a strong message about India’s ambitions in shipbuilding and maritime infrastructure. The ₹25,000 crore Maritime Development Fund is a game-changer, signaling the government’s serious intent to make India a global hub for shipbuilding. This investment, coupled with the push for port-led development and logistics efficiency, will drive growth for companies like ours. The ₹1.5 trillion allocation for infrastructure development is another positive step, ensuring better connectivity for shipyards and ports, which is crucial for scaling up operations.

However, the industry still needs policy reforms that encourage private sector participation and reduce dependency on imports for critical components. A clear roadmap for defence shipbuilding and incentives for indigenous manufacturing will further strengthen India’s maritime ambitions. The increased defence budget allocation and emphasis on modernization present a significant opportunity for private players in the defence sector. Encouraging strategic partnerships and fostering a robust domestic ecosystem for naval defence manufacturing will be key to enhancing India’s self-reliance in maritime security.

At Swan Defence and Heavy Industries, we are excited about these developments and look forward to leveraging these opportunities to contribute to India’s self-reliance in shipbuilding, maritime defence, and overall strategic capability.”