India’s Ministry of Shipping has nominated Tamil Nadu on the south-eastern tip of the country and Gujarat in the north-west as focal points for the development of new maritime and shipbuilding centers.

The Ministry’s report notes that India currently accounts for just 0.45 percent of the global shipbuilding market, which is currently dominated China, Korea and Japan. In spite of the current economic downturn, it estimates that shipbuilding demand will increase to 150 million dwt by 2025 and 300 million dwt by 2035 as a result of growing global trade.

India therefore hopes to boost its shipbuilding capacity and sees opportunities in naval, coastal shipping and merchant fleet replacement.

In Gujarat, a maritime technology cluster could leverage the existing steel industry at nearby Hazira, the existing shipyards at Pipavav, Dahej and Hazira ports and ship breaking industry at Alang.

The maritime cluster in Tamil Nadu is expected to be located on 100 acres owned by Kamrajar Port, near Kattupalli Port and shipyard.

India maritime services could account for 0.2 percent of the nation’s GDP by 2025. India’s GDP is expected to reach $6 trillion by 2025, and with a services share of 50 percent, the maritime services industry could be expected to be worth around $6 billion by 2025.

The report also port-led developments throughout the country to boost steel and cement manufacturing, refining capacity, logistics efficiency as well as the development of aquariums, water parks, marine museums, cruise tourism, water sports and fishing.

By MarEx

One Response to India Contemplates New Shipbuilding Centers

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *