Sonowal Expands India’s Maritime Partnerships in South Korea, Pushes Shipbuilding and Green Shipping Goals

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal held a series of high-level meetings with South Korean maritime organisations, shipbuilders, shipping companies and Cyprus’ Shipping Deputy Minister to deepen international cooperation in shipbuilding, green shipping, maritime finance and ship recycling.

The discussions form part of India’s broader strategy to become a globally competitive hub for shipbuilding, shipping and maritime services by 2047.

Addressing stakeholders in Busan, Sonowal said India’s maritime sector is witnessing rapid growth under the leadership of Prime Minister Narendra Modi and offers significant opportunities for international partnerships, investments and technology transfer.

One of the key outcomes of the visit was Cyprus reaffirming its support for India’s efforts to secure European Union recognition for eligible Indian ship-recycling facilities. During bilateral talks, Cyprus Shipping Deputy Minister Marina Hadjimanolis also discussed maritime investment, shipbuilding, shipping services and seafarer welfare with the Indian delegation. She informed that around 25 Cypriot companies are expected to visit India in November to explore business opportunities in maritime-related sectors.

In discussions with Kim Jin-jong, CEO of Sejin Heavy Industries, opportunities were explored for manufacturing partnerships involving LNG and LPG cargo tanks, cryogenic structures, large shipbuilding blocks and specialised marine equipment. Such collaboration is expected to strengthen India’s domestic shipbuilding capabilities and support the country’s transition towards greener shipping solutions.

Sonowal also met Yang Won-chang, President of the Korea Marine Equipment Research Institute (KOMERI), to discuss cooperation in marine equipment manufacturing, testing, certification, research and development, green propulsion systems and smart maritime technologies. Both sides explored collaboration between KOMERI and the proposed India Ship Technology Center (ISTC).

Another important meeting was held with executives of HMM, one of South Korea’s leading shipping companies. Discussions focused on the possibility of flagging vessels in India, recruiting Indian seafarers, utilising Indian ship-recycling facilities and expanding shipping services to additional Indian ports.

The minister also invited greater participation from Korean maritime financial institutions, highlighting opportunities under the Maritime Development Fund (MDF) and Sagarmala Finance Corporation (SMFC). He noted that India has approved a shipbuilding support package worth nearly 7.8 billion US dollars and is developing mega shipbuilding clusters, while planning a fleet expansion programme involving more than 400 vessels valued at around 23 billion dollars.

The meetings are expected to open new avenues for investment, technology transfer and industrial cooperation, further strengthening India’s ambition to emerge as a major global maritime hub over the next two decades.