Shipbuilding Financial Assistance Scheme (SBFAS)

What it is

Help eligible shipyards determine whether a vessel contract fits SBFAS, calculate the separate assistance basis, prepare domestic-content and contract evidence, and submit through the official route within the prescribed timeline.

What you get

• Shipbuilding Financial Assistance for qualifying Indian-built vessels

Who it is for

• the applicant is an eligible shipyard constructing a vessel under a qualifying shipbuilding contract
• the contract date and approval route fall within the current SBFAS eligibility boundary
• the major portion of the vessel hull is constructed and assembled in India and major machinery, equipment installation, commissioning and tests/trials meet the guideline conditions
• the vessel satisfies the applicable domestic-content requirement and the domestic-content value can be certified by the prescribed Chartered Accountant route
• the shipyard applies on the SBFAS web portal within 45 days of signing the contract and submits the prescribed contract, project and financial evidence
• the vessel is not excluded by Schedule I and the project is not improperly claiming duplicate support for the same vessel

Not eligible if

• ordinary logistics, shipping-company operations or vessel ownership without an eligible shipyard construction contract
• vessels excluded under Schedule I or contracts outside the current date and approval boundaries
• domestic content below 30 percent, which receives nil SBFAS support
• construction, assembly, machinery installation, commissioning or testing that does not satisfy the India-location conditions
• applications submitted outside the 45-day route without an applicable official exception
• the contract price, fair price and calculated assistance must follow the lowest-price and re-evaluation rules; no scheme outlay is an applicant entitlement
• the same vessel must not be represented as receiving duplicate central or State support where the current guidelines prohibit it

How to apply

1. 1
   Confirm shipyard and vessel eligibility

   Check the current SBFAS guideline, Schedule I exclusions, vessel category and contract-date boundary before treating the route as available.

   Official step
2. 2
   Sign and document the qualifying contract

   Record the first or initial vessel contract, date, owner/buyer, contract price, vessel category and any SBFAP/SBFAS transition condition applicable to the contract.

   Official step
3. 3
   Calculate domestic content and price basis

   Prepare the Indian-origin goods, components, services, labour, machinery and overhead calculation, obtain the required CA certification and establish the Contract/Fair Price basis.

   Official step
4. 4
   Apply within 45 days

   Use the current SBFAS portal within 45 days of signing the contract, obtain the unique application number and submit the prescribed approval documents.

   Official step
5. 5
   Track construction, tranches and final verification

   Retain construction, machinery, commissioning, trials, payment, delivery, inspection, milestone, claim and audit evidence through final tranche and any re-evaluation.

   Official step

Keep ready