India aims to become one of the world’s top five shipbuilding nations by 2047, ramping up its domestic shipbuilding capacity from 1 million gross tonnes (GT) to 4.5 million GT. At the SMM Hamburg opening ceremony, Shipping Secretary Vijay Kumar presented India’s strategic vision, targeting a top-10 position by 2030. He emphasized collaborative opportunities between Indian and European maritime firms, particularly in technology and green shipping.
As part of its strategy, the Indian government announced a €7 billion support package for shipbuilding, including the establishment of integrated “mega shipping clusters” that unite shipyards, component manufacturers, and logistics providers. The initiative aims to enhance production capacity and create a demand pipeline, consolidating requirements for over 400 vessels in the offshore energy sector, with an expected investment of around €2 billion.
India is also prioritizing sustainability, developing financing programs for green ports and vessels while preparing its ports for alternative marine fuels. Kumar highlighted India’s leadership in ship recycling, handling 35% of global end-of-life vessel tonnage and aligning practices with international standards, offering incentives for responsible recycling.
In pursuit of these goals, Kumar invited European stakeholders to invest in Indian shipbuilding, explore newbuilding orders, and engage with the Indian delegation during the exhibition, underscoring a mutual growth vision rooted in innovation and sustainability.
