India aims for global leadership in shipbuilding with policy push: S&P

India’s shipbuilding sector is at a historic inflexion point, with bold government policies, rising global demand, and international partnerships positioning the country to emerge as a leading maritime power, according to Rahul Kapoor, Global Head of Shipping Analytics & Research, S&P Global Commodity Insights. Experts believe that with sustained efforts, the country could break into the world’s top five shipbuilding nations by 2047. Kapoor said many Memoranda of Undertakings (MoUs) have been signed with Japan and Korea to boost the sector.  There are a lot of MoUs which are being signed with Korea and Japan, particularly because those are the leaders along with China. Work is also underway to develop eight integrated shipbuilding clusters, including five new facilities and three expansions. These will bring together shipyards, equipment makers, training centres, and support infrastructure in one ecosystem, as per a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!