New Delhi: India is strengthening its shipbuilding industry by working with South Korea and Cyprus to become a global maritime hub by 2047.
The discussions focus on advanced shipbuilding technology, foreign investment, green shipping, port development, and sustainable ship recycling.
Union Minister Sarbananda Sonowal led the Indian delegation during meetings in South Korea, while Cyprus expressed support for India’s efforts to gain European Union recognition for eligible ship-recycling facilities.
These partnerships could help India build more ships locally, create skilled jobs, and reduce its dependence on foreign shipbuilders.
India Shipbuilding Cooperation With South Korea Expansion
India is looking to use South Korea’s advanced shipbuilding technology to strengthen its domestic shipbuilding industry. South Korea is a major player in the global shipbuilding sector and has expertise in building large commercial ships and specialised marine equipment.
Read also: India Targets 5% Global Shipbuilding Market Share by 2030 with 10 World-Class Shipyards
During meetings in Busan, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal held discussions with South Korean shipbuilders, maritime research institutions, shipping companies, and financial organisations.
The discussions covered ship manufacturing, marine equipment, port infrastructure, shipping finance, and cleaner maritime technologies. India wants international companies to invest in its shipbuilding industry and help develop modern shipyards.
India And South Korea Explore Joint Ship Manufacturing
One important area of discussion was cooperation between Indian and South Korean companies to manufacture large shipbuilding blocks, liquefied natural gas (LNG) tanks, liquefied petroleum gas (LPG) cargo containers, and advanced cryogenic structures.
These specialised structures are important for modern ships that carry gas and other industrial materials. Producing more of these components in India could strengthen local manufacturing and reduce the need to import specialised equipment.
Cochin Shipyard Limited, a major Indian shipbuilding company owned by the government, also explored possible joint ventures with South Korea’s Sejin Heavy Industries for ship-block fabrication.
Such partnerships could help Indian shipyards improve their manufacturing capacity and take on more complex shipbuilding projects.
What is the Focus Area of India Shipbuilding Cooperation
India is also exploring cooperation in cleaner and more efficient shipping technologies. The global maritime industry is working to reduce pollution and improve the energy efficiency of ships.
Discussions with the Korea Marine Equipment Research Institute covered research and development, equipment testing, certification, and smart and green propulsion technologies.
The two sides also explored possible links between the South Korean research institute and India’s proposed India Ship Technology Centre.
Better research facilities and testing systems could help Indian manufacturers develop marine equipment that meets international standards. This would support domestic innovation and improve the competitiveness of Indian products in global markets.
India Seeks Investment From South Korean Maritime Companies
Building modern shipyards requires large investments, advanced machinery, skilled workers, and strong supply chains. India is therefore seeking financial support and business partnerships from international maritime companies.
During the meetings, India presented investment opportunities through the Maritime Development Fund and Sagarmala Finance Corporation.
The government has also announced a shipbuilding support package worth approximately $7.8 billion to strengthen the country’s shipbuilding capabilities.
India is developing shipbuilding clusters and working to meet demand for hundreds of vessels. These efforts are intended to attract private investment, expand local production, and make Indian shipyards more competitive.
India Shipbuilding Cooperation: Cyprus Supports India’s Ship Recycling Plans
India is also strengthening maritime cooperation with Cyprus, a country with an established shipping and maritime services sector.
During the discussions in South Korea, Sarbananda Sonowal met Marina Hadjimanolis, Cyprus’s Shipping Deputy Minister.
A major outcome was Cyprus’s support for India’s efforts to obtain European Union recognition for eligible Indian ship-recycling facilities.
Such recognition could help qualifying Indian facilities improve their access to European business opportunities, subject to the applicable EU rules and certification requirements.
The two countries also discussed cooperation in shipbuilding, ship management, maritime technology, investment, and seafarer welfare.
Around 25 Cypriot maritime companies were expected to visit India in November 2026 to explore possible business partnerships in these areas.
India Wants To Become A Global Maritime Hub By 2047
India’s long-term maritime strategy aims to make the country a major global centre for shipbuilding, shipping, and maritime services by 2047.
The plan involves expanding shipyards, attracting international companies, improving port infrastructure, and developing advanced manufacturing capabilities.
India also wants to increase the number of ships built domestically and strengthen its position in the international maritime supply chain.
Cooperation with South Korea could provide access to advanced shipbuilding expertise, while engagement with Cyprus could support ship recycling and maritime services.
Together, these partnerships could help India develop a stronger maritime industry and create opportunities for Indian manufacturers, engineers, technicians, and shipping professionals.
FAQs
Cyprus has supported India’s efforts to obtain European Union recognition for eligible Indian ship-recycling facilities. This could help qualifying facilities access more international business opportunities.
India is partnering with South Korea to access advanced shipbuilding technology, attract investment, manufacture specialised marine equipment, and improve the capabilities of Indian shipyards.
India aims to become a globally competitive centre for shipbuilding, shipping, and maritime services by 2047. Its plans include expanding shipyards, improving technology, attracting investment, and developing skilled workers.
