India And ROK Forge Shipbuilding And Maritime Partnership

22 Apr 2026 CW Team

The Indian side outlined incentives under the Shipbuilding Development Scheme and state and financial supports to attract large greenfield shipbuilding clusters. It invited HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE) and other Korean builders to act as technical and strategic anchors for design, production engineering and advanced manufacturing. Officials noted a non binding memorandum involving the identified developer and the Maritime Development Fund (MDF).

Participants took note of a memorandum among HD KSOE, the cluster developer and MDF for joint development and urged early implementation. Officials highlighted India’s public agency acquisition plan for more than 400 vessels valued at Rs 2.2 tn, about USD 25 bn, and supported cooperation to channel this demand into bilateral partnerships and local supply chains. They also backed modernisation of brownfield yards and construction of a Block Fabrication Facility.

The two sides welcomed the opening of a Korea Marine Equipment Association (KOMEA) branch in Mumbai and the interest of the Korea Marine Equipment Research Institute (KOMERI) in local collaboration. They agreed to boost institutional links, skills training and maritime education, encouraging Indian Maritime University (IMU) and Korea Maritime and Ocean University (KMOU) to finalise joint programmes. A project to be implemented by the Korea International Cooperation Agency (KOICA) with the Ministry of Ports, Shipping and Waterways (MoPSW) will support skill development. Leaders noted a PPP pipeline worth about USD 13.3 bn and expressed confidence the India ROK partnership will yield economic and strategic benefits.

On 20 April 2026 Prime Minister Narendra Modi and President Lee Jae Myung of the Republic of Korea (ROK) held talks and agreed to deepen partnership in shipbuilding, shipping and maritime logistics. They noted shared maritime traditions and complementary industrial strengths and said cooperation supports India’s Maritime Amrit Kaal 2047 Vision. The leaders underlined the sector’s strategic role for national security and prosperity. The Indian side outlined incentives under the Shipbuilding Development Scheme and state and financial supports to attract large greenfield shipbuilding clusters. It invited HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE) and other Korean builders to act as technical and strategic anchors for design, production engineering and advanced manufacturing. Officials noted a non binding memorandum involving the identified developer and the Maritime Development Fund (MDF). Participants took note of a memorandum among HD KSOE, the cluster developer and MDF for joint development and urged early implementation. Officials highlighted India’s public agency acquisition plan for more than 400 vessels valued at Rs 2.2 tn, about USD 25 bn, and supported cooperation to channel this demand into bilateral partnerships and local supply chains. They also backed modernisation of brownfield yards and construction of a Block Fabrication Facility. The two sides welcomed the opening of a Korea Marine Equipment Association (KOMEA) branch in Mumbai and the interest of the Korea Marine Equipment Research Institute (KOMERI) in local collaboration. They agreed to boost institutional links, skills training and maritime education, encouraging Indian Maritime University (IMU) and Korea Maritime and Ocean University (KMOU) to finalise joint programmes. A project to be implemented by the Korea International Cooperation Agency (KOICA) with the Ministry of Ports, Shipping and Waterways (MoPSW) will support skill development. Leaders noted a PPP pipeline worth about USD 13.3 bn and expressed confidence the India ROK partnership will yield economic and strategic benefits.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..