India and South Korea agreed to broaden cooperation in shipbuilding, shipping, and maritime logistics following discussions between Prime Minister Narendra Modi and South Korean President Lee Jae Myung. The talks focused on strengthening industrial partnerships, infrastructure development, and workforce training to support India’s expanding maritime sector.
India outlined plans to procure more than 400 vessels in the coming years, valued at approximately Rs 2.2 lakh crore (around USD 25 billion). Both countries agreed to align this demand with bilateral partnerships aimed at developing a sustainable shipbuilding ecosystem.
Collaboration will include upgrades to Indian shipyards, brownfield expansion projects, and the development of advanced facilities such as block fabrication units and new dry docks designed for large and specialized vessels. The initiative is expected to support India’s long-term maritime infrastructure goals.
Officials also highlighted India’s policy and financial incentives for domestic manufacturing, which may create opportunities for South Korean companies to expand operations in shipbuilding components and related industries. The establishment of a Mumbai branch of the Korea Marine Equipment Association and ongoing cooperation with the Korea Marine Equipment Research Institute were welcomed as part of this effort.
Both sides agreed to strengthen workforce development through training programs in shipbuilding led by the Korea International Cooperation Agency in partnership with India’s Ministry of Ports, Shipping and Waterways. The initiative aims to expand technical capacity through development cooperation and public-private partnerships.
The agreement also encourages Korean shipowners to utilize India’s financial and regulatory platforms, including GIFT City, to register vessels under the Indian flag. Officials noted that India’s pool of more than 320,000 seafarers provides a strong foundation for global maritime operations.
Multiple memoranda of understanding were also signed covering port development and infrastructure. These agreements create opportunities for Korean firms to participate in India’s port modernization pipeline, estimated at USD 13.3 billion over the next five years. Key projects include the Vadhvan container port in Maharashtra and terminal developments in Odisha and Gujarat.
Companies from both countries also agreed to jointly design and manufacture next-generation maritime and port cranes in India, further expanding industrial collaboration. In addition, academic and research partnerships will be strengthened between maritime institutions, focusing on green shipping, autonomous vessels, and port management.
Both countries also acknowledged shared maritime heritage and welcomed cooperation on maritime history initiatives, including India’s upcoming National Maritime Heritage Complex at Lothal in Gujarat.
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