India to spend ₹85,000 cr on homebuilt oil tanker fleet: Report

India plans to spend over ₹85,000 crore ($10 billion) to purchase 112 crude carriers through 2040, seeking to have its own fleet to secure supplies, Moneycontrol reported. Only ships built locally, even if there’s foreign collaboration, will be considered for purchase. India reportedly targets to raise the share of locally built oil tankers in its fleet to 7% by 2030.