Posted on October 6, 2025
India’s Deputy Minister Ramachandran highlights tech-manpower synergy for shipbuilding growth
“South Korea possesses world-class shipbuilding technology, but lacks the workforce to support it. Conversely, India has abundant manpower. We believe mutual cooperation can maximize benefits for both sides.”
Shri TK Ramachandran, a deputy minister from India’s Ministry of Ports, Shipping and Waterways, emphasized bilateral cooperation during a recent interview in New Delhi, stating, “While Korean shipyards continue to secure orders, domestic production conditions have reached saturation, increasing the need for overseas construction.” The Ministry of Ports, Shipping and Waterways oversees India’s maritime, port, and waterway policies, serving as a key link between the Indian Ocean and the Pacific. In 2020, it was renamed from the Ministry of Shipping to reflect the growing awareness of maritime transport’s impact on national development.
India is actively pursuing collaboration with South Korea to revive its shipbuilding industry. Currently ranked in the global top 20, India aims to become a top-five shipbuilding power by 2047, its 100th year of independence. To achieve this, it plans to expand its fleet from approximately 1,500 vessels to 2,500 and gradually replace aging leased ships with domestically built ones. Additionally, India set targets to increase the share of “Made in India” ships to 7% by 2030 and 60% by 2047. According to KOTRA, India’s shipbuilding market was valued at approximately $1.12 billion (approximately 1.577 trillion Korean won) last year but is projected to surge to $8 billion by 2033.
Ramachandran diagnosed that cooperation with advanced shipbuilding nations is essential to achieving these ambitious goals. “India has abundant manpower but lacks construction capabilities, technology, and training systems,” he said. “If shipbuilding powerhouses like South Korea and Japan provide technology, and India offers manpower and locations, a complementary partnership can be formed.” Last year, he visited South Korea to inspect Hanwha Ocean, Samsung Heavy Industries, and HD Hyundai Heavy Industries shipyards, accompanied by the CEO of India’s Kochin Shipyard. The delegation reportedly discussed technology transfers, potential investments, and the establishment of local shipyards.
Ramachandran explained that India’s focus on shipbuilding extends beyond economic value to national security. “During global crises like the COVID-19 pandemic, energy supply shocks, and the Russia-Ukraine war, we faced difficulties such as detours, with freight rates rising from $2,000 to $15,000 per container,” he said. “Without domestic ships, countries are vulnerable to international shipping market volatility. Securing a national fleet is strategically imperative.” This aligns with a global trend, as the US also views shipbuilding as a security asset through projects like MASGA (Make American Shipbuilding Great Again). Ramachandran emphasized, “Building, owning, and flagging ships is not only commercially rational but strategically essential.”
