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Indicating the lack of ship component manufacturers in India, Shipping Minister G.K Vasan said the shipyards were importing about 80 per cent of components.
raw material cost
Giving this information to Parliament on Monday, Vasan said in the last three fiscals, five commercial shipyards spent over Rs 6,700 crore on import of raw material and components, according to data provided by Shipyards Association of India.
subsidy
Referring to the five-year shipbuilding subsidy scheme that was discontinued after August 15, 2007, the Minister said the scheme boosted the shipbuilding sector.
The subsidy scheme was available to both public and private firms, which, after the contracted price, receive a certificate of “reasonableness” from the Director General, Shipping; or the actual payment received by shipyard, whichever was lower.
The Shipping Ministry has been trying to get a scheme to provide sops for Indian shipbuilders.
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