India seeks a partnership with South Korea to advance its shipbuilding industry as part of a plan to rank among the world's top five shipbuilders by 2047. TK Ramachandran from the Ministry of Ports said on Monday that Seoul possesses advanced technology, while New Delhi offers substantial workforce capacity. South Korean shipyards are operating at full capacity with orders booked through 2028, creating opportunities for collaboration.
The government approved a package worth 697 billion rupees in September to revitalize the maritime sector, and aims to increase domestic ship ownership from 5 percent to 70 percent by 2047. An Indian delegation visited major South Korean shipyards between late November and early December to explore cooperation. The maritime sector handles 95 percent of India's trade by volume, but foreign vessels currently carry most cargo.
The government approved a package worth 697 billion rupees in September to revitalize the maritime sector, and aims to increase domestic ship ownership from 5 percent to 70 percent by 2047. An Indian delegation visited major South Korean shipyards between late November and early December to explore cooperation. The maritime sector handles 95 percent of India's trade by volume, but foreign vessels currently carry most cargo.
