An Indian delegation has met with authorities and entities in South
Korea to access their interest in investing in India towards setting up
shipbuilding and repair facilities at its proposed mega shipbuilding parks. A similar exercise is proposed for Japan
to access their interest in shipbuilding in India.
“We are looking at Korea for putting up shipbuilding infrastructure in
the country. The talks are for both funding as well as technology transfer.
Similar exercise is also on with Japan,” said T.K. Ramachandran, Secretary in the Ministry of Ports,
Shipping and Waterways.
The ministry’s aim
is to lift India from its 22nd position in global shipbuilding to be among the
top 10 shipbuilding hubs by 2030 and top 5 by 2047, he added. “Three coastal states have already expressed their willingness to give
land for shipbuilding and repair cluster. Now, we will tie up with companies to
put up this cluster,” Ramachandran said.
“Domestic shipbuilding will help
achieve the government’s target of controlling at least 5% of global tonnage.
Presently we have less than 1% of global tonnage. It is not enough to
achieve the targeted economic growth and development of the nation,” said
Pushpank Kaushik, Chief executive of Jassper Shipping, a Singapore-based
shipping and logistic service provider.
“Domestic shipbuilding will not only support Indian ship owners but will
also become an alternate shipbuilding destination away from Vietnam, Korea,
Japan and China.”
India wants to replicate in the domestic shipbuilding industry the
automobile revolution that began with wooing Japanese carmaker Suzuki Motor
Corp. in the 1980s to establish Maruti Suzuki India Ltd, Ramachandran
said.
New Delhi wants to
invite global shipbuilding giants such as South Korea’s Hanwha Ocean Co. Ltd
and Samsung Heavy Industries and Japan’s Mitsubishi Shipbuilding Co. Ltd and
Mitsui Engineering and Shipbuilding to India. “All these
companies are possible candidates for putting up shipbuilding and repairs
infrastructure in the country,” the secretary said.
The Union government is finalising a shipbuilding mission to scale up
India’s shipping infrastructure and establish an ecosystem including policy
prescriptions and incentives to promote ship manufacturing in the country.
As part of the
shipping ministry’s Amrit Kaal Vision 2047 action plan, it has identified 17
initiatives for shipbuilding and repair and ship recycling facilities in
India.