India seeks investments from South Korea & Japan for shipbuilding clusters

India is seeking investments and technology transfer from South Korea and Japan to establish shipbuilding and ship repair clusters to promote the domestic shipping supply chain in the country, according to a senior government official.

Currently, India holds less than 1 per cent of the global shipbuilding market, dominated by China, South Korea, and Japan.

"We are looking at South Korea and Japan for investments and technology transfer for establishing shipbuilding and ship repair clusters in India," TK Ramachandran, Secretary in Ministry of Ports, Shipping and Waterways (MoPSW), told a group of journalists here.

Ramachandran was in Goa to participate in the 20th Maritime State Development Council (MSDC), where plans for a mega shipbuilding park, spanning multiple states, were discussed.

"We have communicated to them (South Korea and Japan) that you come with your technology and investments, we will provide you land for setting up shipbuilding and ship repair clusters," he ...