Union Cabinet on Wednesday approved ₹69,725 crore package to revitalise India's shipbuilding and maritime ecosystem. The Shipbuilding Financial Assistance Scheme will be extended until March 31, 2036, with a total corpus of ₹24,736 crore. The Maritime Development Fund has been approved with Maritime Investment Fund of ₹20,000 crore. The overall package is expected to generate nearly 30 lakh jobs.