The central government has identified land in Andhra Pradesh, Tamil Nadu and Gujarat to develop large-scale shipbuilding and repair centres.
Meanwhile, South Korea’s HD Hyundai is reportedly close to finalising a partnership with the Cochin Shipyard Limited to manufacture large vessels in India for intercontinental trade. The company is likely to invest around Rs 100 billion in Thoothukudi, Tamil Nadu.
In addition to Thoothukudi, land parcels in Gujarat and Andhra Pradesh are being positioned to attract international investments in shipbuilding. Also, companies based in France, the Netherlands, and the Middle East are showing interest as India opens its doors to global players.