Kolkata, Aug. 23 -- Union defence minister Rajnath Singh said in Kolkata on Sunday that the current situation in the maritime industry presents a golden opportunity for India to bridge the gap between demand and production.

"The demand for all types of vessels is rising. Our navy is expanding and so are the challenges in maritime defence. Many nations such as the UK once expanded their empires with maritime power. But their shipbuilding capacities have decreased in recent years. There is a gap in global shipbuilding capacity. This is a golden opportunity for India," Singh said in Kolkata.

The defence minister virtually laid the foundation stones for five expansion projects worth around Rs.3,500 crore for Garden Reach Shipbuilders and En...