India partners with South Korea and Japan for shipbuilding investments and technology transfer, aiming to rise to top 10 by 2030 and top 5 by 2047.

India is working to enhance its shipbuilding industry by partnering with South Korea and Japan for investments and technology transfer. Currently holding less than 1% of the global market, India aims to rise to the top 10 by 2030 and the top 5 by 2047. The initiative is supported by a Rs 25,000 crore Maritime Development Fund and focuses on establishing shipbuilding clusters. Additionally, India seeks to expand its ship recycling capabilities to strengthen its maritime ecosystem.

September 15, 2024
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