India aims for 5% global shipbuilding market share by 2030
India just set its sights on building a bigger presence in global shipbuilding—aiming for a 5% market share by 2030.
Union Minister of State for Shipping Shantanu Thakur shared the plan at a Goa conference, highlighting 10 new world-class shipyards coming up through public-private partnerships and international collaborations.
The focus is on modern, sustainable ships that support both green growth and India's push for self-reliance.
India developing national shipbuilding policy
To make this happen, India is developing a National Shipbuilding Policy to simplify rules and offer incentives. There's also funding lined up to upgrade shipyards and encourage partnerships.
By 2030, expect an Indian container shipping line; by 2035, 50% of container vessels produced domestically—meaning less need for foreign vessels.
Plus, with PM Gati Shakti integration and innovations like electric propulsion and carbon capture tech, India hopes to make waves as a global maritime leader.