Chennai/Kochi, Dec. 21 -- The divergence is stark. Both Cochin Shipyard Ltd (CSL) and HD Hyundai Heavy Industries were established the same year-1972. In 53 years, the South Korean company has become the largest shipbuilding entity in the world with revenue of $9.85 billion (2024). A few weeks ago, it delivered its 5,000th vessel-a patrol frigate for the Philippines navy. On the other hand, CSL, India's largest shipbuilder, is a fraction of that size. It generated revenue of about $550 million in 2024-25 and had only built 241 vessels till March this year.

India, once a maritime super power, has lost its way and has fallen off the global shipping map. Its share in shipbuilding is a paltry 0.06% of global output measured in terms of gross...