India is making bold strides toward becoming a global shipbuilding hub, with HD Hyundai and Cochin Shipyard Limited (CSL) in advanced discussions to establish a ₹10,000 crore mega shipyard in Thoothukudi, Tamil Nadu.
Strategic Expansion in Shipbuilding
The Indian government has identified coastal land in Tamil Nadu, Gujarat, and Andhra Pradesh to develop world-class shipbuilding and repair facilities. The Thoothukudi project, led by CSL and South Korea’s HD Hyundai, aims to manufacture large vessels for intercontinental trade.
Government Support and Policy Boost
The initiative aligns with India’s ₹18,090 crore enhanced shipbuilding financial assistance policy and the ₹25,000 crore maritime development fund, announced in the Union Budget 2025-26. These policies aim to increase India’s share in the global shipbuilding market, which currently stands at less than 1%.
Global Interest in India’s Shipbuilding Sector
India’s shipbuilding expansion has attracted international investors, with companies from France, the Netherlands, and the Middle East expressing interest in setting up manufacturing facilities.
India’s Vision for Global Shipbuilding Leadership
The government’s long-term goal is to propel India into the top 10 global shipbuilding nations by 2030 and the top 5 by 2047.
With HD Hyundai and Cochin Shipyard’s collaboration, India is set to strengthen its maritime capabilities, positioning itself as a key player in the global shipbuilding industry.
