A total of 22 private Indian shipbuilders have joined forces to ask the government for INR 150bn ($2.14bn) of working capital to keep the industry going.
The Business Standard said yards belonging to L&T and Reliance, among others, met minister of shipping Nitin Gadkari on Monday.
They demanded a shipbuilding development fund to refinance existing credit and capital expenditure.
They also asked for a shipbuilding division within the shipping ministry which would ensure higher utilisation of capacity, as well as easing tender terms.
