New Delhi, Oct. 9 -- India is stepping up efforts to build a globally competitive shipbuilding industry through an ecosystem-based approach that combines demand aggregation, shipyard infrastructure, financing support and incentives for domestic ship ownership, T K Ramachandran, former secretary in the Ministry of Ports, Shipping and Waterways, said on Thursday at Sagarmanthan: The Great Oceans Dialogue 2026 in New Delhi.

Ramachandran said that a series of legislative reforms and a Rs. 70,000-crore package announced last year marked a turning point for India's maritime sector.

"Last year was a very important period in the history of the Indian shipbuilding sector, maritime sector," he said, referring to the enactment of five laws and the...