From The Economic Times · Bikash Singh · · 1m
India Targets South Korean Marine Equipment Makers
India seeks South Korean investment to boost shipbuilding and maritime manufacturing.
In brief
India seeks South Korean investment to boost shipbuilding and maritime manufacturing. India aims to attract South Korean marine equipment makers through partnerships to grow shipbuilding, with $7.8 billion in shipbuilding approvals and 40% year-on-year output growth in 2025. Originally reported by The Economic Times.
India's Maritime Strategy
Union Minister Sarbananda Sonowal pushed for universal maritime rules that all countries can implement effectively.
“The objective should therefore be common standards and outcomes, supported by cooperation that enables every Member State to implement them effectively”
World Maritime Day Meeting
Sonowal met with South Korea's marine equipment industry leaders at a high-level roundtable on World Maritime Day.
International Standards
India aims for ambitious international standards that recognize national differences in development and access to finance.
“The principle of common but differentiated responsibilities and respective capabilities”
Korea Marine Equipment Association
Korea Marine Equipment Association (KOMEA) will open its first India office in Mumbai on October 30, 2025.
Shipbuilding Growth
India approved a $7.8 billion shipbuilding package in September 2025, with 40% year-on-year output growth in 2025.
Future Shipbuilding Plans
India's shipyards will build 400 vessels worth $23 billion over the next decade with government demand.
What it means
India aims to attract South Korean marine equipment makers through partnerships to grow shipbuilding, with $7.8 billion in shipbuilding approvals and 40% year-on-year output growth in 2025.
