Archive · 21 Dec 2025
India's $75 Billion Shipping Challenge
India used to be a big player in shipping, but now it's way behind countries like South Korea and China.
Indian ships only make up a tiny part of the global fleet, and the country spends a lot of money on foreign ships.
The government is trying to fix this by investing in shipbuilding and encouraging Indian companies to own more ships.
They want to make India one of the top five shipbuilding countries in the world.
But there are big challenges, like not having enough skilled workers, high costs, and competition from other countries.
The government is also trying to make it easier for Indian ships to compete by changing some rules and taxes.
If they succeed, India could save a lot of money and become a major player in shipping again.
India's share in global shipbuilding is just 0.06%, with 1,150 ships out of 60,000 globally.
The country spends $75 billion annually on foreign ships, more than its defense budget.
The government has launched initiatives like Maritime India Vision 2030 and Maritime Amrit Kaal Mission 2047 to boost domestic shipbuilding.
Indian shipbuilders face challenges like high costs, lack of scale, and long delivery times compared to global competitors.
The government has announced a ₹69,725 crore package to support shipbuilding and vessel ownership, aiming to add 300 Indian ships by 2030.
- Who
- India, Cochin Shipyard Ltd (CSL), HD Hyundai Heavy Industries, Indian government, global shipping industry
- What
- India's decline in shipbuilding and ownership, government initiatives to revive the sector, challenges faced by Indian shipbuilders
- When
- Historical decline, recent government actions in 2024, long-term vision for 2030 and 2047
- Where
- India, South Korea, China, global shipping routes
- Why
- To reduce dependence on foreign ships, lower chartering costs, and regain maritime dominance
- India's Global Shipbuilding Share
- 0.06%
- India's Ship Ownership Rank
- 22nd
- Indian Ships in Global Fleet
- 1,150 out of 60,000
- Annual Cost for Foreign Ships
- $75 billion
- CSL's Revenue (2024-25)
- $550 million
- HD Hyundai's Revenue (2024)
- $9.85 billion
- Government Shipbuilding Package
- ₹69,725 crore
- Target Indian Ships by 2030
- 300