Prime Minister Narendra Modi recently announced that India is currently constructing 60 large Navy ships, with a total value of around Rs 1.5 trillion. This investment is expected to have a significant economic impact, creating a sixfold employment multiplier effect and generating a circulation of approximately Rs 3 trillion. Modi highlighted that each vessel’s construction creates up to 14,000 direct and indirect jobs, emphasizing the importance of the shipbuilding industry in driving economic growth and job creation.
During the commissioning of three frontline Indian Navy combatants – INS Surat, INS Nilgiri, and INS Vaghsheer – at the Naval Dockyard in Mumbai, Modi praised the “Make in India” initiative for enhancing the country’s defense capabilities and fostering economic progress. He noted that building ships domestically not only benefits the armed forces but also supports the growth of local industries, particularly micro, small, and medium enterprises (MSMEs). The Prime Minister highlighted the role of MSMEs in the shipbuilding process and the employment opportunities created by the industry.
Modi also discussed India’s self-reliance in defense and the decision to no longer import over 5,000 items and equipment. He mentioned the establishment of key manufacturing facilities for helicopters and transport aircraft, as well as the development of defense corridors in Uttar Pradesh and Tamil Nadu to boost domestic defense production. The Navy’s progress in implementing the Make in India policy was commended by Modi, citing the addition of 33 ships and seven submarines over the past decade, with the majority being built in Indian shipyards.
