India has granted infrastructure status to its shipyard industry in a move that will make access to long-term financing cheaper.
Yards join ports and inland waterways on the list, the LiveMint website said, citing a government notification.
Shipbuilders are paying interest of 14% to 15% on loans currently, but this is expected to be reduced.
The private sector has been suffering from a lack of orders in recent years and debt has been piling up.
