INDUSTRY
New policy in the works to push shipbuilding industry up from 20th to 10th position by 2030
- IBJ Bureau
- Jul 05, 2024
The government will come up with a new shipbuilding and ship repair policy soon to make India among the top-10 countries in the sector by 2030 and top-five by 2047, Secretary in the Ministry of Ports, Shipping and Waterways T K Ramachandran has said.
Mr Ramachandran has added that if tremendous demand stemming from the needs of the Indian shipping market is adequately targeted by Indian shipyards, it may result in an opportunity to the extent of over Rs 20 lakh crore by 2047.
Mr Ramachandran chaired a workshop on the issue in New Delhi, which was attended by more than 100 participants from 50 organisations, including various government ministries, departments, shipping operators and public sector as well as private shipyards.
Strategies for revitalising the shipbuilding and repair ecosystem within India and aligning it with India’s ambitious Maritime India Vision 2030 (MIV 2030) and Amrit Kaal Vision 2047 were discussed at the meeting.
MIV 2030 has set a bold target to elevate India’s global ranking in shipbuilding and ship repair from over the 20th place to the top 10 and an ambitious goal has been set for the top-five position, as outlined in the Amrit Kaal Vision 2047.
The Ministry of Ports, Shipping and Waterways is working on an integrated approach to bringing together shipbuilding stakeholders through the development of maritime clusters.
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