Shares of Garden Reach Shipbuilders & Engineers (GRSE) surged more than 3% on Thursday, September 25, following the Union Cabinet’s approval of a ₹69,725 crore package to boost India’s shipbuilding industry. The stock rose 3.55% to ₹2,811.20 on the NSE, gaining ₹96.40 from the previous close of ₹2,714.80.
The Cabinet package is aimed at revitalising India’s maritime power and includes measures such as the Shipbuilding Financial Assistance Scheme (₹24,736 crore corpus), Maritime Development Fund (₹25,000 crore), and Shipbuilding Development Scheme (₹19,989 crore). The reforms are expected to expand domestic shipbuilding capacity, strengthen technical capabilities, and promote greenfield and brownfield shipyards.
GRSE, a leading defence shipyard under the Ministry of Defence, is among the key beneficiaries of this policy boost, as it specialises in building naval and coast guard ships. The announcement has sparked optimism among investors about fresh order inflows and long-term growth prospects.
Last week, Prime Minister Narendra Modi stressed India’s heavy reliance on foreign shipping services—nearly ₹6 lakh crore annually—and called for “Atmanirbharta” in the sector. India, currently holding just 0.06% of the global shipbuilding market, aims to be in the top 10 by 2030 and the top 5 by 2047.
