समुद्रीय प्रशासन महानिदेशालय
Directorate General of Maritime Administration
Ministry of Ports, Shipping and Waterways
Government of India
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Pillar 2 — ₹25,000 Cr


Maritime Development Fund


A blended-finance vehicle for long-term capital deployment across shipbuilding, port modernisation and green shipping - budgetary support from FY2026 to FY2036.

Overview


Priority Sectors - min. 50% (target 70%) of corpus

Shipbuilding & shipbuilding clusters, ship repair, ship ownership & tonnage acquisition, port expansion, inland waterways terminals, coastal & international shipping

Other Sectors - up to 50% of corpus

Multi-Modal Logistics Parks (MMLPs), maritime connectivity, ancillary manufacturing & services. Overseas capped at 10% of corpus, for technology & innovation only

Maritime Investment Fund (MIF)
₹20,000 Cr

Fund corpus

An expanded corpus of up to ₹70,000 Cr is reportedly under consideration

  • Long-term capital for shipbuilding, port modernisation & green shipping
  • Blended-finance equity fund - closed-end Category I/II AIF
  • Junior tranche (concessional) absorbed by GoI; senior tranche open to commercial/institutional investors
  • 49% public : 51% private blended structure
  • Equity instruments only, for growth & expansion; fund retains flexibility to select instruments
Interest Incentivization Fund (IIF)
₹5,000 Cr

Fund corpus

  • Interest incentive of up to 3%
  • Offered to banks & financial institutions
  • Applicable on loans extended to Indian shipyards
  • Reduces the cost of debt financing for shipbuilding projects

Policy Instruments


GoI's contribution is held and managed by SMFCL in a fiduciary capacity within an Alternative Investment Fund (AIF) structure. The Fund is restricted to equity instruments to support growth and expansion, while retaining flexibility in selecting specific instruments within that mandate.

Key Milestones Since Launch


24 Sep 2025

MDF approved by Cabinet

13 Oct 2025

Governing Council (GC) constituted

SMFCL appointed as Implementing Agency for IIF

18 Dec 2025

1st meeting of the Governing Council

19 Feb 2026

RFP issued for Fund Manager selection (MIF)

20 Feb 2026

MDF (MIF & IIF) guidelines issued

With the concurrence of the Department of Economic Affairs (DEA)

5 Mar 2026

Pre-bid meeting on the Fund Manager RFP

15 Apr 2026

Fund Manager appointed for MIF · IIF portal created

19 May 2026

SBI Ventures appointed as Fund Manager for MIF