NEW DELHI, India — India is pursuing a shipbuilding collaboration with Japan’s leading maritime companies as part of its ambition to become a major global shipbuilding and maritime hub, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
During his visit to Japan, Puri held meetings with senior executives from ‘K’ Line and NYK Line, two of Japan’s most prominent shipping companies, to explore partnership opportunities in shipbuilding, technology transfer, and maritime operations.
“In a productive meeting with Yukikazu Myochin, Chairman of ‘K’ Line, Japan, we discussed the initiatives being taken to transform India into a maritime shipping hub under the leadership of Prime Minister Narendra Modi,” Puri said in a post on X. He added that ‘K’ Line’s deep expertise in shipbuilding monitoring, delivery, and chartering — along with its long-standing presence in India — could be crucial in advancing India’s “Make in India for the World” shipbuilding vision.
Puri also met with Nobuhiro Kashima, Senior Managing Executive Officer of NYK Line, where discussions centered on ongoing shipping arrangements between Indian public sector oil companies and the Japanese carrier, as well as future cooperation.
“Indian companies are looking forward to exploring collaboration opportunities with NYK on technology transfer, shipbuilding monitoring, knowledge sharing, joint shipbuilding and ship operations,” Puri noted.
The minister highlighted initiatives launched by the Indian government to build a competitive shipbuilding ecosystem. This includes the Shipbuilding Financial Assistance Scheme (SBFAS) and the Maritime Development Fund (MDF), which together offer over $6 billion in financial support aimed at lowering debt costs and improving the commercial viability of shipbuilding projects.
India’s expanding energy sector, one of the largest in the world, requires a growing number of vessels to support both current operations and future growth, Puri said. The country currently spends between $5 billion and $8 billion annually on freight charges, underscoring the need for domestic shipbuilding capability.
Puri emphasized that the government is committed to developing a shipbuilding ecosystem that ensures India’s maritime needs are met with vessels manufactured domestically, reinforcing the goal of “Make in India for the World.” (Source: IANS)
