The Korea Marine Equipment Association (KOMEA) will open its first India office in Mumbai on Friday, October 30, 2026, marking a significant step towards strengthening cooperation between India and South Korea in shipbuilding and marine equipment manufacturing, according to the Ministry of Ports, Shipping and Waterways.
The association has offered to collaborate with Indian shipyards in areas including ship design, modernisation, technology transfer, joint educational programmes, and the local manufacture of marine equipment and spare parts. The proposed initiatives are expected to support the development of India’s domestic maritime manufacturing capabilities and create opportunities for Korean companies to invest in the country’s growing shipbuilding sector.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, who is on a four-day visit to South Korea, highlighted the opportunities for Korean marine equipment manufacturers in India’s expanding shipbuilding industry. He noted that essential ship components, including engines, propulsion systems, deck machinery, and electrical and navigation equipment, are currently imported in significant quantities.
The establishment of KOMEA’s Mumbai office is expected to provide a platform for facilitating partnerships between Korean suppliers and Indian shipyards, with potential opportunities for joint ventures, technology licensing and manufacturing facilities in India.
Founded in 1980, KOMEA represents 304 equipment manufacturers, design firms, shipbuilders and ship repair companies. Its members include major Korean maritime and shipbuilding companies such as HD Hyundai, Hanwha Ocean and Samsung Heavy Industries.
KOMEA Chairman Ho-il Kang said member companies had begun preparing to enter the Indian market over the next two years. Representatives of companies including SB Sunbo, Daeyang, KASEMEC and JO Engineering have also discussed potential investment opportunities in India’s maritime sector.
India’s shipbuilding ambitions are supported by a government package worth approximately $7.8 billion, approved in September 2025. According to official estimates cited by the ministry, India’s shipbuilding output increased by 40% year-on-year in 2025 following the scheme’s approval and grew by more than 80% in 2026.
The pipeline of vessels receiving direct government assistance covers more than 120 ships valued at over $1.27 billion, with export orders accounting for more than 80% of the total value. In addition, demand from government entities has been consolidated to provide Indian shipyards with order-book visibility for more than 400 vessels worth approximately $23 billion over the next 10 years.
The opening of KOMEA’s India office is expected to strengthen bilateral maritime cooperation, encourage investment in domestic manufacturing and support India’s efforts to build a more competitive and self-reliant shipbuilding ecosystem.