MoPSW Hosts Key Workshop to Revitalize Indian Shipbuilding Industry

Shri TK Ramachandran emphasized the government’s commitment to transforming India into a global economic superpower, with the maritime sector playing a crucial role.

The Ministry of Ports, Shipping, and Waterways (MoPSW) successfully organized a pivotal workshop focused on revitalizing the Indian shipbuilding industry. The event, chaired by MoPSW Secretary Shri TK Ramachandran, brought together key stakeholders, representatives from various government ministries, departments, shipping operators, and both public and private sector shipyards.

The workshop aimed to align efforts with India’s ambitious Maritime India Vision 2030 (MIV 2030) and Amrit Kaal Vision 2047, setting the stage for discussions on strategies to enhance the shipbuilding and repair ecosystem within India.

Strategic Vision and Goals

Shri TK Ramachandran emphasized the government’s commitment to transforming India into a global economic superpower, with the maritime sector playing a crucial role. “Atma Nirbharta emphasizes self-reliance, extending to the shipping and shipbuilding industries. Despite our developments in port infrastructure and inland waterways, we remain dependent on foreign vessels. This workshop aims to present policies based on stakeholder inputs to drive demand and capacity growth,” he stated.

The ministry's presentation highlighted the growing trend of Indian overseas and coastal cargo, juxtaposed with the declining share of cargo carried by Indian-owned/flagged vessels, currently at only about 5.4%. Without intervention, this share could fall further, potentially marginalizing Indian-built ships even within India’s own market.

Key Discussions and Outcomes

The workshop, attended by over 100 participants from 50 organizations, including the Ministry of Defence, Ministry of Coal, DG Shipping, Shipyards Association of India, and major industry players like Indian Oil Corporation Limited and Hindustan Shipyard Limited, focused on bridging the gap between demand generators and suppliers/builders.

Participants deliberated on the limitations faced by Indian shipyards, necessary incentives, and potential assistance from MoPSW. Insights from these discussions will inform the ministry’s 100-day agenda, aiming to develop and nurture the shipbuilding ecosystem to achieve the ambitious targets of MIV 2030 and MAKV 2047.

Policy and Support Initiatives

MoPSW has previously supported the industry through schemes such as the Shipbuilding Financial Assistance Policy and the Right of First Refusal (ROFR) policy. However, India’s commercial shipbuilding sector still accounts for less than 1% of the global market, primarily due to lack of domestic demand. MoPSW is now examining policy measures to bolster demand creation domestically, strengthening the nation’s fleet.

Notable advancements by Indian shipbuilding companies in developing indigenous low-emission or zero-emission vessels showcase the potential for India to lead in sustainable and green shipbuilding. MoPSW is working on an integrated approach to bring stakeholders together through the development of Maritime Clusters.

Future Prospects

Aligning with MIV 2030 and Amrit Kaal Vision 2047, the workshop underscored the importance of these visionary frameworks in driving India’s maritime growth. MIV 2030 aims to elevate India’s global ranking in shipbuilding and ship repair from over 20th place to the top 10, with an ambitious goal of reaching the top 5 by 2047 as outlined in MAKV 2047. Other targets include handling 1300 MMTPA of coastal cargo and increasing the proportion of Indian overseas cargo carried on Indian-owned/built ships.

This strategic vision reflects the government’s commitment to enhancing India’s maritime infrastructure and capabilities, making the country a global maritime powerhouse. The comprehensive strategy aims to develop sectoral capabilities, adopt global best practices, protect foreign exchange reserves, drive sustainability, and expand shipbuilding capacity.

Through collaborative efforts and stakeholder engagement, the MoPSW is poised to make significant strides towards realizing the ambitious goals of MIV 2030 and MAKV 2047, positioning India at the forefront of the global maritime industry.