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India Poised to Become Global Shipbuilding Power, Says Sanjeev Sanyal
M
Moneycontrol•24-09-2026, 12:42
India Poised to Become Global Shipbuilding Power, Says Sanjeev Sanyal
- •Sanjeev Sanyal, member of the PM's Economic Advisory Council, stated that India possesses the shipyards, maritime expertise, and policy framework to become a major shipbuilding power.
- •Speaking at DEFCON 2026, Sanyal emphasized the need to scale up capacity across commercial shipping, large tankers, and other merchant vessels.
- •India's maritime position offers significant economic opportunities, with historical and economic links to neighbors like UAE, Oman, Australia, Singapore, and Indonesia.
- •Despite existing capabilities and growing international demand, India's share in the global shipbuilding market remains below 1%, compared to China's 55% and South Korea/Japan's 20% each.
- •The government has announced a –70,000-crore package and accorded infrastructure status to the shipbuilding sector to support capacity expansion and investment.
Key Questions Answered
Sanjeev Sanyal noted that India's share in the global shipbuilding market remains below 1%, whereas China accounts for approximately 55%, and South Korea and Japan each account for roughly 20%.
The Centre has introduced a ₹70,000-crore package for the shipbuilding sector and granted it infrastructure status to boost investment and capacity expansion.
Approximately 95% of India's trade by volume and 75% by value is transported by ships, highlighting the heavy dependence on maritime transport.
