Kochi: India aims to enhance its shipbuilding capacity and rank among the world’s top five shipbuilding nations by 2047. Cochin Shipyard Limited (CSL) stands to gain significantly from this initiative, supported by recent policy reforms and investments. At the recent COMARSEM 2026 maritime seminar, Shyam Jagannathan, Director General of Shipping, emphasized the urgency of boosting domestic shipbuilding capabilities to lessen reliance on foreign fleets, particularly in light of changing geopolitical dynamics.
Last year, the Indian government announced a substantial maritime revival package worth over ₹69,700 crore, with nearly ₹20,000 crore designated for improving shipbuilding infrastructure. CSL aims to leverage Kochi’s historical shipbuilding sites in alignment with this development strategy. Jagannathan highlighted the importance of enhancing existing shipyards, noting that they possess skilled labor and operational expertise, which allows for quicker capacity expansion compared to new greenfield projects.
Additionally, a significant policy shift recognizes large commercial vessels as infrastructure assets, facilitating better access to long-term financing. This change is expected to alter capital access in terms of cost, tenure, and risk perception, potentially increasing public sector demand. The government plans to aggregate demand through state-owned entities, targeting the construction of over 350 vessels domestically in the coming years, thereby instilling confidence in private players as well. CSL, which is involved in shipbuilding, repair, and maintenance, is well-positioned to capitalize on this burgeoning demand.
