India Woos South Korea, Cyprus to Boost Shipbuilding and Maritime Sector
India is courting Korean firms for shipbuilding and port projects as officials cite a $23 billion pipeline of more than 400 vessels.
- Union Minister Sarbananda Sonowal held meetings with South Korean maritime institutions and Cyprus Shipping Deputy Minister Marina Hadjimanolis to strengthen India's maritime sector and build supply chain capabilities for a global shipping hub by 2047.
- India has approved a shipbuilding support package of about $7.8 billion, with mega clusters under development and a pipeline of more than 400 vessels worth an estimated $23 billion, driving the nation's maritime growth trajectory.
- South Korean maritime firms explored partnerships on marine equipment manufacturing, research, and testing, while Cochin Shipyard Ltd evaluated block fabrication with Sejin Heavy Industries to enhance technical capabilities.
- Cyprus backed India's bid for European Union recognition of ship-recycling facilities, as Shipping Deputy Minister Marina Hadjimanolis noted about 25 Cypriot companies are expected to visit India in November.
- "I look forward to working with you to translate our Strategic Partnership into concrete and mutually beneficial maritime outcomes," Sonowal said, emphasizing India's goal to build technology and supply chain capabilities.
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14 Articles
The Economic Times
Times of IndiaIndia woos South Korea, Cyprus to boost shipbuilding and maritime sector
Union Minister Sarbananda Sonowal engaged South Korean and Cypriot maritime leaders to enhance India's shipbuilding capabilities. Discussions focused on marine equipment manufacturing, shipbuilding investment, and sustainable technology initiatives. The Indian government is working to create a robust maritime ecosystem supporting green shipping and innovation. Partnerships with international companies are being explored to facilitate growth in m…
New Delhi, Oct 28 (IANS) Around 25 leading companies from Cyprus will visit India in November to promote investment and technical cooperation in India's maritime and shipbuilding sector. Representatives from these companies will assess the possibilities of partnership in shipping, ship management, maritime technology and related areas, an official statement said. Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal held several imp…
25 Leading Cyprus Companies To Visit India In November To Explore Partnerships In Shipping, Shipbuilding & Maritime Technology
India is strengthening maritime partnerships with South Korea and Cyprus to boost shipbuilding, marine equipment manufacturing and green technology. Around 25 Cypriot companies are expected to visit India in November to explore shipping, ship management and maritime technology partnerships.
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