India targets 5 pc share in global shipbuilding market by 2030: Minister

Union minister Shantanu Thakur on Monday said the government has set a target of securing 5 per cent share of the global shipbuilding market by 2030 and developing 10 world-class shipyards with the support of public-private partnerships and international collaborations.

India is moving towards becoming a global hub for sustainable shipbuilding, backed by policy reforms, technological innovation and strong industry-government collaboration, Thakur said, addressing via video conference the CII Conference in Goa on 'India's Shipbuilding Roadmap towards Maritime Amrit Kal Vision 2047'.

''Shipbuilding is more than just an industry - it is a symbol of national strength and self-reliance. Our vision is to make India not just a participant, but a leader in sustainable shipbuilding, contributing to green growth, blue economy, and Atmanirbhar Bharat,'' the Minister of State for Ports, Shipping and Waterways said.

''Our shipyard modernisation programme is ambitious yet achievable. We are targeting a 5 per cent share in the global shipbuilding market by 2030, a significant leap from our current position. This will be achieved through strategic investments in automation, digital twin technology and green shipbuilding innovations,'' he said.

Thakur further said the government plans to develop ''10 world-class shipyards by 2030, supported by public-private partnerships and international collaborations that will bring global best practices to Indian shores''.

He highlighted the rapid transformation of the maritime sector under the leadership of Prime Minister Narendra Modi over the past decade. The inland waterway cargo movement, he said, has grown by more than 320 per cent since 2014, significantly reducing logistics costs while boosting eco-friendly transport. This growth is aligned with India's $2 trillion export target by 2030 and the net-zero emissions goal for 2070, he added.

The government's focus has been on modernising port infrastructure and improving efficiency across the supply chain, the minister said. He cited the inauguration of projects at Deendayal Port in Kandla, reviews of development in Kolkata and the island territories, and the strengthening of multimodal logistics under the PM Gati Shakti programme, which is reducing turnaround times and improving last-mile connectivity.

Thakur said the government is working towards establishing a national container shipping line by 2030, with a target of achieving 50 per cent domestic production of container vessels by 2035. ''This ambitious project will reduce our reliance on foreign shipping companies and place Indian shipyards at the heart of global trade,'' he said.

The minister also outlined the role of the Maritime Development Fund, a dedicated financing mechanism that is supporting shipyard modernisation, research in green shipbuilding and fostering public-private partnerships.

On innovation, Thakur said India is witnessing unprecedented progress in the development of electric propulsion systems, carbon capture technologies and automation in shipbuilding, aided by startups and industry pioneers.

Hackathons and innovation challenges, he added, are helping strengthen the domestic Research and Development ecosystem.

The minister said the government is also incentivising green shipbuilding and has committed that by 2047, at least 30 per cent of India's shipping fleet will be powered by clean fuels such as LNG, methanol and hydrogen.

Dedicated green shipping corridors and inland green vessels are part of this vision, he said.

A comprehensive National Shipbuilding Policy is in the works, which will streamline regulations, extend tax incentives, and provide a 10-year roadmap for shipbuilding growth, Thakur said. The policy will also focus on skill development, with plans to train 50,000 workers by 2030, and on R&D for autonomous and green vessels, he said.

Integration with PM Gati Shakti's multimodal connectivity framework, he noted, will create coastal industrial clusters near shipyards to streamline raw material supply and reduce costs. ''By 2030, our shipbuilding hubs in Gujarat, Kerala and Andhra Pradesh will be seamlessly integrated with rail and road networks, creating unprecedented efficiencies,'' he said.

Thakur also referred to progress under the Sagarmala programme, which has already transformed India's coastal ecosystem. ''By this year, 150 projects will be completed, including green shipping corridors and initiatives to strengthen container shipping capacity,'' he said.

The minister called for closer collaboration between government, industry and academia to unlock the full potential of India's maritime sector. ''With dedicated financial support, innovative partnerships and sustainable practices, we are positioned to transform India into a global shipbuilding powerhouse. The journey ahead is challenging but full of opportunities,'' he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)