Mumbai, Oct. 29 -- Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal has invited South Korean marine equipment companies to invest in India's shipbuilding sector, while calling for international maritime rules that can be implemented by all countries. He made the appeal during a ministerial roundtable held in Busan for World Maritime Day.
Sonowal shared the platform with International Maritime Organization (IMO) Secretary-General Arsenio Dominguez and ministers from South Korea, Norway and Cyprus. He said global standards should remain ambitious and universal, but their implementation should reflect differences in national circumstances, development levels, technology and access to finance.
He described IMO conventions as an operational framework for protecting seafarers, trade and supply chains amid geopolitical instability, piracy and disruption in the Red Sea. Sonowal proposed joint working groups linking countries with established maritime capabilities to those still developing them, including through training for surveyors and inspectors, legal assistance and time-bound implementation plans.
India enacted five maritime laws in 2025, which took effect in March 2026. Its Maritime Single Window now covers 69 ports and terminals, while the Alang-Sosiya yard has 115 ship recycling facilities compliant with the Hong Kong Convention. Sonowal said these measures reflected India's efforts to build domestic maritime capability.
At a meeting with the Korea Marine Equipment Association (KOMEA), which represents 304 equipment makers, design firms, shipbuilders and repairers, Sonowal outlined opportunities in engines, propulsion, deck machinery, electrical systems and navigation equipment. KOMEA will open its first India office in Mumbai on October 30, following cooperation between the two countries under the VOYAGES framework. Its members have also discussed design, modernisation, technology transfer, training and local manufacturing.
India approved a shipbuilding package worth about $7.8 bn in September 2025. Output increased 40 per cent in 2025 and more than 80 per cent in 2026, while government-supported orders cover over 120 vessels worth more than $1.27 bn. Aggregated demand from government entities is expected to provide Indian shipyards with an order book of more than 400 vessels worth about $23 bn over the next 10 years.
Published by HT Digital Content Services with permission from Construction World.