Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
This comes as other major ship building ports in China, Japan and South
Korea are “booked out” till 2028 leaving a gap in demand for new vessels, it
added.
Notably, India is at present #20 in the
global commercial ship building market (0.05 per cent share) and aims
to be in the top 10 by 2030 and top 5 by 2047, per the ‘Maritime
Amrit Kaal Vision 2047’ released by PM Shri
Narendra Modi in January this year.
India’s potential for the market is pegged at around $62
billion net by 2047, as per a KPMG
document on the industry, submitted to the Ministry of Ports, Shipping and
Waterways earlier this month, it added. Further, the potential jobs creation is
pegged at 12 million, as per the same document.
The Gautam Adani-led
pivot to the shipbuilding also comes as the industry looks for green ships —
with requirement numbered around 50,000 vessels over the next 30 years to
replace all old-school ones, the report added.
Notably, Adani has the acreage and environment approvals due
to its SEZ status to enter this heavy engineering sector fairly quickly, the
report added. It is also better
placed in terms of competing, as Indian shipyards are currently outbid by
foreign shipyards due to as much as 35 per cent of “cost disadvantage”.
India has eight state-owned ship building
yards (seven of which are Defence Ministry owned), and 20 private ones (where
only L&T builds defence vessels). The
KPMG document showed that most capacity at Indian yards was skewed towards
naval vessels and not commercial ones, the report added.
