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Cochin Shipyard Ltd and Mazagon Dock Shipbuilders Ltd are planning new shipbuilding facilities in Tamil Nadu, in collaboration with the state government. The move aligns with India's Maritime India Vision 2030 and aims to significantly boost shipbuilding capacity. India currently has less than 1% of the global shipbuilding market but plans to become a top 10 shipbuilding nation by 2030 and reach top five by 2047. Partnerships with international firms and domestic initiatives are central to achieving this growth.
Cochin Shipyard Ltd, India's leading commercial shipbuilder, and Mazagon Dock Shipbuilders Ltd, the country's top warship builder, are preparing to establish new shipbuilding facilities in Tamil Nadu in collaboration with a state government entity. The agreements will be formalized through memorandums of understanding, with the presence of the Prime Minister at the signing ceremony. Advertisement
In addition to the Tamil Nadu project, Cochin Shipyard will sign a long-term cooperation MoU with South Korea's HD Korea Shipbuilding & Offshore Engineering Co. Ltd (KSOE). This partnership will focus on sharing expertise, advanced technologies, and best practices in shipbuilding and maritime development, aiming to strengthen India's shipbuilding industry.
India's current shipbuilding capacity stands at about 0.072 million gross tonnes (GT). To meet the goals of Maritime India Vision 2030, this capacity must increase to 0.33 million GT by 2030 and further expand to 11.31 million GT by 2047. Achieving these targets would place India among the top five shipbuilding nations globally. To support these expansions, the government estimates USD 18 billion will be required by 2047 for shipbuilding, ship repair, and ancillary industries, alongside USD 388 billion to expand shipping tonnage and USD 260 billion for green tonnage enhancement.
India currently holds less than 1% (0.06%) of the global shipbuilding market and ranks 16th globally. The aim is to break into the top 10 by 2030 and the top five by 2047, while also establishing India as a major ship-owning nation. To increase capacity, the government has proposed shipbuilding clusters at locations including Dugarajapatnam (Andhra Pradesh), Kendrapara (Odisha), Thoothukudi (Tamil Nadu), and several sites in Maharashtra and Gujarat. The Gujarat government will also partner with Swan Defence and Heavy Industries Ltd to expand shipyard capacity and develop a cluster at Pipavav.
Additionally, the Shipyards Association of India and Indian Steel Association will collaborate to ensure domestic steel from integrated producers is utilized for shipbuilding projects, supporting the industry's self-reliance and efficiency.
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