India’s Ministry of Ports, Shipping and Waterways is planning a high-level delegation visit to South Korea and Japan next month to attract major shipbuilders and secure anchor investors for proposed maritime clusters across the country.
According to a report published by Mint on October 11, 2026, the delegation will include senior government officials and industry representatives and focus on investments in shipbuilding and ship repair, technology transfer and partnerships with Indian shipyards.
The proposed outreach comes as India seeks to translate policy incentives and infrastructure development into firm investment commitments. South Korean shipbuilding major HD Hyundai had signed a memorandum of understanding with the Tamil Nadu government in December 2025 to explore a $4 billion greenfield shipyard at Thoothukudi. A tripartite MoU was subsequently signed in April 2026, and work on a detailed feasibility report began in September.
Meanwhile, HD Korea Shipbuilding & Offshore Engineering halted its review of a proposed joint venture with state-owned Cochin Shipyard Ltd for a block fabrication facility in Kochi in August. However, technical cooperation between the two companies is expected to continue.
₹69,725 Crore Maritime Development Push
The government’s overseas engagement follows a ₹69,725 crore package announced in October 2025 to strengthen India’s shipbuilding, ship repair and recycling capabilities, expand domestic ship ownership and develop maritime infrastructure.
The package includes a ₹25,000 crore Maritime Development Fund, ₹24,736 crore in shipbuilding financial assistance and ₹19,989 crore for developing shipbuilding clusters.
India has identified five greenfield shipbuilding clusters in Andhra Pradesh, Odisha, Tamil Nadu, Gujarat and Maharashtra. Three brownfield facilities are also planned, including ship repair infrastructure at Vadinar and shipbuilding facilities at Kandla in Gujarat and near Cochin Port in Kerala.
The proposed clusters are expected to accommodate shipyards, equipment manufacturers, component suppliers, bunkering facilities, ship-leasing companies and other maritime service providers.
Demand Assurance Remains Critical
Despite the policy support, securing large-scale and predictable demand for vessels remains a key challenge for attracting investors. Shipbuilding projects require substantial upfront capital and have long development timelines, making financing certainty and project execution crucial.
Industry representatives believe international shipbuilders could bring advanced technology, design expertise, planning capabilities and access to global markets. However, firm orders from government-owned companies and private-sector buyers would be essential to accelerate investment decisions.
India currently accounts for less than 1% of global shipbuilding output. The government aims to position the country among the world’s top 10 shipbuilding nations by 2030 and the top five by 2047.
The planned visits to South Korea and Japan will therefore be an important test of India’s efforts to attract global shipbuilding expertise, secure anchor investors and establish a competitive domestic maritime manufacturing ecosystem.