September 23, 2025
Daily current affairs:September 23, 2025
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India Signs MoU with Sagarmala Finance for Shipbuilding Projects
Short Description : Swan Defence and Heavy Industries Limited (SDHI) signed an MoU with Sagarmala Finance and GMB to boost indigenous shipbuilding and enhance India’s maritime capabilities.
Long Description : On September 23, 2025, Swan Defence and Heavy Industries Limited (SDHI) entered into a Memorandum of Understanding (MoU) with Sagarmala Finance Company Limited (SMFCL) and Garden Reach Shipbuilders & Engineers (GMB) to strengthen shipbuilding projects in India. The collaboration aims to leverage financial support from SMFCL and technical expertise from GMB to accelerate the construction of advanced naval and commercial vessels. This initiative aligns with the government’s 'Make in India' and 'Atmanirbhar Bharat' campaigns, focusing on self-reliance in defense manufacturing and boosting the domestic maritime industry. The MoU is expected to facilitate technology transfer, create skilled jobs, and enhance India’s strategic presence in the Indian Ocean Region.