India is pursuing investments and technology transfers from South Korea and Japan to develop shipbuilding and repair clusters, aiming to bolster its domestic maritime supply chain.
Currently, India holds less than 1% of the global shipbuilding market, which China, South Korea, and Japan primarily dominate. An Indian delegation has already engaged with South Korean authorities and companies to explore potential investments, with a similar approach planned for Japan.
India is exploring investment opportunities and technology transfers from South Korea and Japan to establish shipbuilding and repair clusters, according to T.K. Ramachandran, Secretary of the Ministry of Ports, Shipping and Waterways (MoPSW).
India’s ambition is to move up from its current position as the 22nd largest shipbuilding nation to become one of the top 10 global shipbuilding hubs by 2030 and among the top 5 by 2047. Several coastal states have already offered land to develop these shipbuilding and repair clusters.
An Indian delegation has already held discussions with South Korean authorities and companies to gauge their interest in participating in the development of these shipbuilding facilities.
Similar talks are planned with Japanese entities. Union Minister Sarbananda Sonowal hasalso reached out to state governments, urging them to allocate land promptly if South Korean or Japanese firms show interest in these projects.
India is looking to mirror the success of its automobile industry by drawing in major global shipbuilding players like South Korea’s Hanwha Ocean Co. Ltd and Samsung Heavy Industries, along with Japan’s Mitsubishi Shipbuilding Co. Ltd and Mitsui Engineering and Shipbuilding.
T.K. Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways, stated that these companies are potential candidates for developing shipbuilding and repair infrastructure in India.
The Indian government is in the process of finalizing a broad shipbuilding strategy as part of its Amrit Kaal Vision 2047. This plan outlines 17 key initiatives centered on shipbuilding, repair, and recycling. The initiatives aim to extend existing shipbuilding policies beyond 2025-26, boost self-sufficiency through the Atmanirbhar Bharat initiative, and streamline customs procedures for importing ship components.
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