India identifies South Korea as key partner in drive to scale up shipbuilding capacity

India views South Korea as a crucial strategic partner as it works to rapidly expand its shipbuilding industry and enhance maritime security, Minister of Ports, Shipping and Waterways Sarbananda Sonowal said. The minister outlined New Delhi’s ambition to position India among the world’s top five shipbuilding nations by 2047, aligning with the broader “Viksit Bharat 2047” vision of becoming a developed economy.

Sonowal noted that South Korea’s remarkable transformation into a global shipbuilding leader offers a valuable model for India. As part of its long-term maritime roadmap, India aims to break into the world’s top ten shipbuilding nations by 2030 and climb into the top five by 2047. The government has earmarked nearly USD 24 billion to support this push and plans to expand the national commercial fleet from around 1,500 vessels to 2,500, boosting maritime self-reliance.

According to a Yonhap report, the minister highlighted South Korea’s strengths—precision engineering, LNG carrier expertise and highly efficient manufacturing systems—as capabilities that can significantly accelerate India’s ascent in the global shipbuilding value chain. He added that Korea’s development trajectory underscores the importance of focused industrial planning, technology absorption and close collaboration between government, industry and academia.

Partnerships between Indian and Korean shipyards are already taking shape. In July, HD Hyundai and Cochin Shipyard Ltd. signed a landmark agreement to deepen cooperation in shipbuilding—the first such pact between a Korean shipbuilder and an Indian yard. Sonowal said India’s geographical advantages, including its proximity to West Asia, Africa and major east–west shipping lanes, make it an attractive and cost-effective production base for Korean companies seeking to diversify.

New Delhi is simultaneously boosting domestic capabilities. In September, the government approved a Rs 697-billion (USD 8-billion) support package aimed at revitalising the shipbuilding ecosystem, scaling production capacity and enabling shipyards to adopt advanced technologies. Sonowal said Korea could play a pivotal role as both a technology partner and strategic investor, helping India embrace modern ship designs, automation, green-ship technologies and international-quality production standards.

Defence Minister Rajnath Singh also encouraged global defence and maritime companies to leverage India’s expanding shipbuilding ecosystem. Addressing an industry event, he said India has already proven its capabilities by constructing aircraft carriers, research vessels and commercial ships, and is well-positioned to emerge as a global centre for shipbuilding, repair and maritime innovation.