India Explores Shipbuilding Partnerships in South Korea to Boost Industry Growth

An Indian delegation led by Secretary T.K. Ramachandran of the Ministry of Ports, Shipping, and Waterways recently visited South Korea’s main shipyards, including those of HD Hyundai, Hanwha Ocean, and Samsung Heavy Industries. The purpose of the visit was to explore collaboration opportunities to advance India’s shipbuilding sector. India is looking to strengthen its presence in the international shipbuilding industry and is planning to add 1,000 commercial ships to its fleet over the next ten years to address concerns about high shipping rates.

India, as the world’s second-largest steelmaker, aims to expand its steelmaking capacity into shipbuilding. Despite currently lacking shipyards capable of constructing large vessels, India plans to establish large-scale shipbuilding clusters along its eastern and western coasts, including in Gujarat, the home state of Prime Minister Narendra Modi. The country’s goal is to become one of the top 10 shipbuilding nations by 2030 and a top five by 2047, prompting increased outreach to Korean and Japanese shipbuilders.

During a government council meeting in September, the Indian minister identified Hanwha Ocean, Samsung Heavy Industries, Mitsubishi Shipbuilding, and Mitsui Engineering as potential partners for the planned shipbuilding clusters. India’s renewed efforts to engage with Korean shipbuilders reflect its commitment to advancing its shipbuilding sector and achieving its ambitious goals within the industry. The visit to South Korea underscores India’s determination to forge strategic partnerships and enhance its shipbuilding capabilities in line with its long-term objectives.

Source